Wall Street tacks on after GDP surge updated lower

Wall Street tacks on after GDP surge updated lower

On Wednesday, Wall Street's key indexes edged up after the downward revision of American economic surge in the fourth quarter weakened the case for faster lifts in interest rates.

The American Commerce Department told that GDP extended at a 2.5% annual rate versus the previously posted 2.6% tempo.

Firm economic data earlier in February had increased fear among market participants that American interest rates would inch up faster than previously anticipated, spurring Wall Street's most impressive selloff for two years.

Even with the revenues for the last time, the S&P 500 as well as the Dow still appear to be on course for their first monthly slump since last March.

The Dow had tacked on 105.47 points being worth 25,515.5. As for the S&P 500, it rallied 0.43% showing an outcome of 2,756.19, while the Nasdaq Composite added 0.52% reaching 7,368.17.

A batch of retail revenues drove profits in the S&P retail index that acquired 0.94%.

Online retailer Etsy soared 18% right after its profits surpassed estimates, while off-price apparel seller TJX inched up 6.5% having posted positive same-store sales.

Equities of No.2 home improvement chain Lowe's headed south 9% after its quarterly revenue along with margins missed estimates because it spent a lot to take on competition.

Celgene lost 6% after American health regulators had the company's application rejected that looked for approval of a major multiple sclerosis medication.

According to a Reuters analysis, in February global investors trimmed their equity exposure to a three-month minimum, although most still expect equities to try fresh maximums notwithstanding soaring bond revenues.

The American 10-year Treasury revenues, an indicator of global borrowing costs, hit 2.8825% having spiked 2.9250% on Tuesday.

Wall Street's number one volatility indicator, the CBOE Volatility index dived to 17.56 points having reached 18.98 after Powell's testimony.


Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera