NEW YORK, United States — Wall Street indices
generally climbed at the start of trading Monday after a US Federal Reserve
(Fed) announcement about its stimulus measures gave investors clarity on the
economic recovery's future.
اضافة اعلان
The S&P 500 and Nasdaq advanced after posting records at
the close of trading Friday, after Fed Chair Jerome Powell said the US economy
could be ready for the central bank to slow the pace of its massive bond
purchases meant to ease lending conditions during the pandemic.
While he provided few details, the announcement was hotly
anticipated for markets, which have soared during the pandemic thanks to the
Fed's easy money policies.
Patrick J. O'Hare at Briefing.com said traders were
particularly encouraged by Powell's statement that even if the bank tapers bond
purchases, that doesn't mean it will soon raise interest rates.
"The bigger catalyst was likely his reminder that any
future increase in the target range for the federal funds rate faces a
substantially more stringent test and that 'we have much ground to cover to
reach maximum employment,'" he wrote in an analysis.
About 20 minutes into trading, the broad-based S&P 500
was up 0.2 percent at 4,518.34. The tech-rich Nasdaq Composite Index climbed
0.4 percent to 15,186.63.
However the benchmark Dow Jones Industrial Average slid 0.1
percent to 35,407.76.
This week's marquee event will be the August employment
report due out on Friday, which will give the latest update on the labor market
as it deal with the fast-spreading
Delta variant of COVID-19.
Also on traders' minds is Hurricane Ida, which lashed New
Orleans and much of southern Louisiana overnight and could have damaged
petroleum facilities in the area.
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