U.S. stocks rise after Fed cuts rates

Source: Xinhua| 2019-10-31 05:23:34|Editor: Li Xia
Video PlayerClose
U.S.-NEW YORK-STOCKS

An electronic screen shows the trading data at the New York Stock Exchange in New York, the United States, on Oct. 30, 2019. U.S. stocks ended higher on Wednesday. The Dow rose 0.43 percent to 27,186.69, the S&P 500 increased 0.33 percent to 3,046.77, and the Nasdaq climbed 0.33 percent to 8,303.98. (Xinhua/Wang Ying)

NEW YORK, Oct. 30 (Xinhua) -- U.S. stocks rallied on Wednesday after the Federal Reserve cut interest rates for a third time this year.

The Dow Jones Industrial Average jumped 115.27 points, or 0.43 percent, to 27,186.69. The S&P 500 increased 9.88 points, or 0.33 percent, to 3,046.77. The Nasdaq Composite Index gained 27.12 points, or 0.33 percent, to 8,303.98.

Eight of the 11 primary S&P sectors closed higher, with utilities and health care up 0.87 percent and 0.78 percent, respectively, leading the advancers. Energy, however, dropped 2.12 percent, becoming the worst-performing group.

U.S. Federal Reserve on Wednesday lowered interest rates by 25 basis points amid a further slowdown in U.S. economic growth.

The Federal Open Market Committee (FOMC), the Fed's rate-setting body, trimmed the target for the federal funds rate to a range of 1.5 percent to 1.75 percent after concluding its two-day policy meeting, largely in line with market expectation.

"Cutting interest rates is a stimulus package to the economy and the market, so investors love that," Peter Tuchman, an experienced trader on the floor of the New York Stock Exchange, told Xinhua.

The Fed's decision followed the release of the U.S. economic growth data.

The U.S. economy expanded at an annual rate of 1.9 percent in the third quarter of the year, slightly lower than the 2-percent growth rate in the second quarter, the Commerce Department reported on Wednesday.

The slower growth of the gross domestic product (GDP) in the third quarter reflected decelerations in personal consumption expenditures and government spending, and a larger decrease in nonresidential fixed investment, according to the department.

Wall Street also paid close attention to the corporate earnings.

Of the S&P 500 companies that have reported quarterly earnings by far, about 74 percent have topped analysts' expectations, according to data from FactSet.

   1 2 3 4 5 6 7 8 9 Next  

KEY WORDS:
YOU MAY LIKE
EXPLORE XINHUANET
010020070750000000000000011100001385163991
国产无码在线观看免费在线,37pao国产成视频,日韩一区二区视频在线,国产国产人免费人成免费视频麻豆
亚洲成在人电影天堂 | 综合色区国产亚洲另类 | 亚洲人成电影网久久影视 | 最新国产一级特黄Av | 亚洲中文aⅴ中文字幕每天被 | 亚洲精品中文字幕乱码三区 |