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Stock prices rise on Wall Street, US dollar falls after new FRS interest rate cut BNN

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Although stock prices on Wall Street rose on Wednesday (October 30th), the US Federal Reserve System (FRS) pointed out that interest rates were lowered and the US Federal Reserve wanted to avoid changes in interest rates.

The US central bank lowered interest rates for the third consecutive year. FRS president Jerome Powell said the trade wars. Brexit uncertainty seriously affected business investment, but the US economy remained “flexible..

Ik We took this step to help the US economy stay strong in the face of global events and provide some insurance against ongoing risks, Pow Powell said.

After a regular two-day meeting, the FRS Open Market Committee said it cut Wednesday's benchmark interest rate by 0.25% to 1.5% to 75%.

Stock prices on Wall Street changed slightly before this announcement, but then rose.

index Standard and Weak 500 Rose 0.3% to 3046.77 points, reaching its second record in three days.

Investors "received much of what they expected and were relieved." National Securities chief market strategist.

European stock markets traded in different directions, while Asian stock markets fell.

The US dollar was down against the euro and the British pound.

The London Stock Exchange Index FTSE 100 rose 73% on Wednesday to 7330.78 points. The Frankfurt Stock Exchange DAX 30 index fell 0.2% to 12 910.23 points, while the Paris Stock Exchange Index CAC 40 increased 0.5% to 5765 87 points.

US Stock Exchange Index Dow Jones Industrial Average October 30 rose 0.4% to 27'186.69 points. Standard and Weak 500 index up 0.3% to 3046.77 points Nasdaq Composite 0.3% up to 8303.98 points.

According to the New York Stock Exchange e-commerce, WTI crude oil fell 0.9% to $ 55.06 on Wednesday. Brent Crude oil price at the London Stock Exchange fell 1.6% per barrel to $ 60.61.

The EUR was raised from $ 1.1112 to $ 1.1149 on Wednesday against the US dollar. The British pound rose from £ 1.2862 to $ 1.2899. and the US dollar depreciated against the Japanese Yen. 108.85 yen per dollar. The value of the euro against the British pound rose from 86.40 to 86.42 euros.

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