At the opening, the Dow Jones index gained close to 200 points and rose 0.66 percent to 29,453.02 points. The S&P 500 index rose 1.02 percent to 3,692.26 points, and the Nasdaq index rose 1.37 percent to 10,950.94 points.
Indices, which followed a negative course with the US Federal Reserve’s (Fed) increasing interest rates last week and the increase in recession expectations, recovered at the opening of the new day.
“FED SHOULD INCREASES ITS INTEREST RATE TO 4.75 PERCENT BY THE END OF THE YEAR”
On the other hand, while the statements of Fed officials remained in the focus of the markets, Chicago Fed President Charles Evans stated that the Fed would need to raise interest rates to the range of 4.50-4.75% by the end of the year.
Stating that restrictive financial conditions are needed to reduce inflation, Evans noted that it would be appropriate to slow down the pace of interest rate hikes at some point.
The S&P Case-Shiller National Housing Price Index in the country also increased by 15.8 percent in July compared to the same period of the previous year, revealing that the increase in housing prices continued to slow down compared to the previous months.