American stock indexes finished trading on Wednesday with growth, while the S&P 500 and Nasdaq Composite indicators renewed record highs again.
Investors were encouraged by good company reports and better-than-expected statistics.
Traders’ attention in the previous week was focused on a speech by Federal Reserve Chairman Jerome Powell at a Kansas City Federal Reserve Bank (FRB) event. The symposium, organized by the Federal Reserve Bank of Kansas City, annually brings together in Jackson Hole the heads of the world’s central banks, finance ministers, academics and financial market participants.
In recent weeks, investors have become more confident that the Fed and other major central banks will continue to prop up the economy by keeping interest rates low and buying government bonds and other forms of debt, The Wall Street Journal writes.
The ongoing situation is really a good sign for traders interested in how to find forex brokers in North America specifically the United States.
Volatility in the US stock market remains limited for most of August. The Cboe Volatility Index, an indicator of market turbulence, has been at its lowest levels in recent days since the market fell due to the coronavirus pandemic.
Statistics released Wednesday showed that US durable goods orders jumped 11.2% in July from the previous month, continuing to recover from sharp declines in March and April. In June, according to revised data, the figure rose by 7.7%.
Salesforce.com Inc. (SPB: CRM) jumped 26%, posting a record one-day rally. The company reported record quarterly revenue and raised its annual forecast amid strong demand for cloud computing services amid the coronavirus pandemic.
The Dow Jones Industrial Average by the close of trading rose by 83.48 points (0.3%) – up to 28331.92 points.
Standard & Poor’s 500 added 35.11 points (1.02%) to 3478.73 points.
The Nasdaq Composite rose 198.59 points (1.73%) to 11,665.06 points.
