US soars at open with data, Fed's rate decision in focus

Wednesday, 15. June 2022 15:32

Major stock indexes in the United States soared at the opening session on Wednesday, while the country's retail sales report showed a 0.3% plunge, falling short of market expectations, with data on business inventories yet to be released.

Following the Federal Reserve's announcement of its interest rate decision later today, the Federal Open Market Committee (FOMC) will hold a press conference, with a high probability of raising the key interest rate by 75 basis points.

The Dow Jones Industrial soared 260 points or 0.81% at the opening bell with the Boeing Company gaining 2.43%. The Nasdaq 100 increased by 128 points or 1.15% as DexCom Inc. surged 3.23%. The S&P also grew by 0.98%, with Nucor Corporation pulling the index up by 5.32%.

The euro was flat against the dollar, going for $1.04112 at 9:33 am ET.

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Baha Breaking News (BBN) / AB