Dow Jones index soared after FOMC press conference

Note: This section contains information in English only.
Source: Dukascopy Bank SA

US blue chips index rallied on Thursday after the Fed stated that it will embark on stimulus measures to boost US economy.  Larger-than-expected increase in the US PPI last month also lifted the Dow Jones index. On Friday, market players are likely to focus on the US CPI and retail sales data. The Dow Jones Industrial Average Index jumped 1.55% to end Thursday's session at 13,539.86. All business sectors included in the index soared. Moreover, all 30 companies within the index faced an increase in stock price. The top-performers were lenders and basic materials. Bank of America, American Express and Travelers Cos surged 4.79%, 3.11% and 1.35%, respectively. Meanwhile, El du Pont de Nemours and Alcoa added 1.79% and 1.79% amid higher commodity prices.  Oil and gas sector found additional support on escalated tensions in Libya. Crude oil price rallied on supply worries to USD98.14 per barrel, thus sending oil companies higher. Chevron and Exxon Mobil gained 1.82% and 1.88%.

 

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