Wall Street shares soar at open with data in focus

Friday, 24. June 2022 15:30

Major stock indexes in the United States soared at the opening session on Friday while investors awaited data on the country's new home sales and the consumer sentiment report for June, as the fears of recession marked the week's trading.

US Federal Reserve Chair Jerome Powell warned the country's economy has been on an "unsustainable fiscal path" for some time, but that inflation is expected to move closer to the Fed's 2% target over the next two years, as the Fed indicates possible increases in its interest rates.

The Dow Jones Industrial soared over 250 points or 0.83% at the opening session, as Salesforce Inc. pulled the index up by 2.38%. The Nasdaq 100 increased by 130 points or 1.11% with Workday Inc. surging 3.84%. The S&P 500 gained 0.91% with Occidental Petroleum Corporation as its best performer, rising by 2.80%. The indexes extended gains significantly following the opening bell.

The euro was flat against the dollar going for $1.05277 at 9:25 am ET.

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Author:
Baha Breaking News (BBN) / AB