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Stocks hold gains as Fed promises interest rate hike ‘soon’

Interest Rate Hike: Wall Street defended its strong gains Wednesday afternoon as the Federal Reserve said it was getting ready to raise interest rates.

“It will soon be appropriate to raise the target range for the federal funds rate,” the Fed’s policy statement read.

That’s good news for investors who have been desperate for the Fed to do something about the high pandemic-era inflation. But generally speaking, higher rates aren’t loved by the stock market.

Read More: The Fed is getting ready to raise interest rates

Either way, the rally remains on.

The Dow climbed 1.2%, or nearly 400 points, while the broader S&P 500 was up 1.9%. The Nasdaq Composite rose 3%.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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