Wall Street edges up after Fed holds rates steady

Record ID: 1447635

  • Title: Wall Street edges up after Fed holds rates steady
  • Date: 11th December 2019
  • Summary: SANTA MONICA, CALIFORNIA, UNITED STATES (DECEMBER 11, 2019) (REUTERS VIA SKYPE) (SOUNDBITE) (English) GERBER KAWASAKI WEALTH MANAGEMENT, CEO, CO-FOUNDER, PRESIDENT, ROSS GERBER, SAYING: "It was just a year ago when Powell was raising rates and doing his best to destroy the U.S. economy. And I really look at the turning point when he had that meeting with Janet Yellen, and she said, 'what are you doing? You know, you've got to modernize your thinking.' And ever since then, he's done a phenomenal job managing interest rates and the Fed. And so he went from literally getting an F a year ago to right now, I think, he's getting like a B plus A minus. I think he's doing a very good job. I think he's calling the economy right, right now. And I think he's the reason we've seen strength in equities and new highs in markets because he's provided some stability with Trump's chaotic policies."
  • Embargoed: 25th December 2019 21:16
  • Keywords: Dow Jones Industrial Average Federal Reserve Jerome Powell Nasdaq Composite President Donald Trump Ross Gerber S&P 500 U.S. stocks U.S.-China trade equities stock market tariffs trading
  • Location: NEW YORK, NEW YORK + SANTA MONICA, CALIFORNIA, UNITED STATES
  • City: NEW YORK, NEW YORK + SANTA MONICA, CALIFORNIA, UNITED STATES
  • Country: USA
  • Topics: Economic Events,Equities Markets
  • Reuters ID: LVA002B9JABNX
  • Aspect Ratio: 16:9
  • Story Text: Wall Street's main stock indexes ended modestly higher on Wednesday (December 11) after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely.
    The Dow Jones Industrial Average rose 29.58 points, or 0.11%, to 27,911.30, the S&P 500 gained 9.05 points, or 0.29%, to 3,141.57 and the Nasdaq Composite added 37.87 points, or 0.44%, to 8,654.05.
    (Production: Aleksandra Michalska & Conway G. Gittens)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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