Wall Street ends higher after Fed rate hike

Wednesday, 27. July 2022 22:00

Major indexes on Wall Street closed sharply higher after the Federal Reserve raised interest rates by 75 basis points and the bank's Chair Jerome Powell said the Fed is likely to slow the pace of rate hikes. Investors are also awaiting the latest batch of corporate earnings due after the bell, including figures from Meta.

The Dow Jones jumped 1.37% or 434 points. Microsoft, whose shares surged 6.6%, led the gains.

The Nasdaq 100 soared 4.26%. The best performer was PayPal, up 12.18%.

The S&P 500 climbed 2.61% with Enphase Energy flying 17.89%.

The euro rose 0.86% against the dollar to go for 1.02034 at 4:04 pm ET.

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