Wall Street Trading has locked yesterday on light index rises for the sixth day straight – the longest streak of rises since June, based on the Federal Reserve's interest rate announcement and better than expected macroeconomic data published in the United states. By the end of the training day, the Dow Jones Industrial Average rose to its two-year high, having climbed 0.4% to a level of 11,478 points, and ascending to a rate of over 11,500 points during trading. The S&P 5000 grew by 0.1% to a level of 1,241 points, whereas the NASDAQ index climbed 0.1% to a level of 2,627 points.
Asia's stock markets recorded an index decline this morning due to the publication of reports in Japan doubting the global economic recovery. As such, the Tokyo stock exchange traded at light 0.2% declines, the Hong Kong stock exchange declined by 0.7% and the Seoul exchange fell by 0.1%.
As predicted, the Federal Reserve left its interest rate unchanged yesterday at a 0%-0.25% low at which it is placed since December 2008.
The FOMC's accompanying statement said further that “the recovery phase of the American economy is too slow to bring to a decline in unemployment rates.” The bank stuck to the statements made at previous meetings that the interest rate in the United States will remain low for a long while.
In the macroeconomic arena, positive economic data had been published yesterday in the United States, with retail sales growing in November by 0.8%, the fifth month running. Furthermore, the Department of Commerce reported that business stocks in the United States have grown by 0.7%, the tenths monthly rise in a row.
Further in the macroeconomic scene, the PPI has recorded a 0.8% rise in November as compared to the previous month, the sharpest rise in eight month. The core index, not including food and energy prices, has risen by 0.3% in November.
Europe's stock markets locked on a positive trend for the 7th trading day running, closing over a two-year high. The London FTSE index closed on a 0.5% rise, the Frankfurt DAX locked without a change, and the French CAC grew by 0.3%.
