Between the Federal Reserve Chairman Jeremy Powell’s mixed statement, the US market continued to firmly hold its fifth consecutive session on Thursday.
Powell repeated the views of other policy makers in his statement that the Fed will keep march in increasing the interest rate. But he also said that the central bank’s balance sheet will remain small for this. They also expressed concern about the size of the American debt.
At the same time, department store company Massey cut its similar-store sales projections for 2019, thereby limiting the market speed and rolling stock of the company 17.69%.
On Thursday, the Dow Jones Industrial Average closed at 24,001.92 with an increase of 122.8 points or 0.51%. At the same time, Nasdaq Composite closed 28.99 points or 0.42 percent higher at 6,986.07. Also, S & P 500 closed at 2,596.64 with a gain of 11.68 points or 0.45%. In the international market, crude prices of Brent crude went down 0.39% to $ 61.68 a barrel.
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