Wall Street gains modestly after Fed signals rates to hold steady for some time

📆 12/12/2019 12:14 AM
📰 The Straits Times

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NEW YORK (REUTERS) - Wall Street's main stock indexes moved modestly higher on Wednesday (Dec 11) after the US Federal Reserve held interest rates steady and signalled that borrowing costs are likely to remain unchanged indefinitely.. Read more at straitstimes.com.

NEW YORK - Wall Street's main stock indexes moved modestly higher on Wednesday after the US Federal Reserve held interest rates steady and signalled that borrowing costs are likely to remain unchanged indefinitely.

"You are looking at a cautiously optimistic Fed," said Karl Schamotta, chief market strategist at Cambridge Global Payments in Toronto. "Assuming we don't see the tariffs going up, the developments this week, specifically the Fed decision to sit on its hands and its outlook for 2020 should be positive for the stock market," said Kristina Hooper, chief global market strategist at Invesco in New York.

In company news, Home Depot Inc shares fell 1.8 per cent as the home improvement chain forecast fiscal 2020 sales below Wall Street expectations.

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