U.S. stocks end higher, with Nasdaq gaining more than 8% weekly gains

High stock

U.S. stocks rose during trading on Friday, supported by the Federal Reserve’s interest rate decision, which shows the central bank’s seriousness in controlling inflation.

As diplomatic talks between the Moscow and Kiev delegations continued, Russian President Vladimir Putin yesterday attacked in his statements the fifth column of pro-Western elements seeking to destroy the traitors and Russia.

Also, markets understood the Federal Reserve’s decision this week to raise interest rates by 0.25% to 0.50% by 25 basis points.

Central Bank member James Bullard said the central bank should raise interest rates 12 times by 2022 to control inflation.

In another context, US President Biden this week criticized the continuing rise in fuel prices in the United States despite falling oil prices in world markets.

The Bank of England also decided to raise interest rates by 25 basis points to 0.75%, the bank’s third consecutive interest rate hike.

At the end of the session, the Dow Jones Industrial Average rose 0.8% (approximately 274 points) to 34,755 points, reaching a weekly profit of 5.5%, the largest since November 2020.

The Nasdaq was up 2.1% (279 points) at 13,894 points, up 8.2% this week, while the broader “S&P 500” was up 1.2% (equivalent at 51 points) at 4,463 points. Weekly profit. 6.2%.

See also  Renewable energy to contribute $521 billion to global electricity sector by 2022 (report)
  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 73 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space