US stocks close slightly higher after Fed’s rate decision

2019-12-12 00:14:58 GMT (

US stocks rose slightly on Wednesday, after the Federal Reserve's interest rates decision and Fed Chief Jerome Powell's positive statements about the US economy.


The US Federal Reserve decided today in a widely expected move to hold interest rates unchanged between 1.75% and 1.50%, and hinted a pause in 2020.


Fed's Powell said that the job market is still strong, the US economy will continue to grow at a moderate pace and stressed his forecast for inflation to rise to Fed's target rate.


Data showed today that CPI rose by 0.3% in November, higher than forecasts of 0.2%.


To the oil market, West Texas Intermediate (WTI) fell by 0.8% and closed at $58.76 a barrel, with a high of $59.2 and a low of $58.1.


Brent fell by 0.96% to $63.72 a barrel, and hit a high of $64.2 and low of $63.


As for stocks, Dow Jones rose by 0.1% or 29 points to close at 27,911, and hit an intraday high of 27,925 and a low of 27,801.


Nasdaq climbed 0.4% or 38 points to 8,654, with a high of 8,658 and a low of 8,622.


S&P 500 gained 0.2% or 9 points to 3,141, and hit a high of 3,143 and a low of 3,133.

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