US Stocks Rise Ahead of Fed’s FOMC

Shares on Wall Street have risen ahead of the latest statement from the US Federal Reserve.

There is speculation that the US central bank will end its commitment to keep interest rates low for a “considerable period”, suggesting a rate rise is moving closer.

The Dow Jones rose 49.74 points to 17,118.61.

The S&P 500 climbed 8.21 points to 1,980.95, while the Nasdaq added 11.87 points to 4,559.71.

Earlier, figures showed that US consumer prices fell by the sharpest amount for six years last month.

The Labor Department said consumer prices fell 0.3% in November as fuel prices dropped, with the annual rate of CPI inflation sliding to 1.3%.

However, analysts said that the Fed was unlikely to alter its policy, with many economists expecting the Fed to raise rates in mid-2015.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza