https://youtu.be/aynJaSDGuDM
Major stock exchanges on Wall Street reversed their course on Thursday after recording significant losses following the release of the country’s inflation report that revealed higher-than-expected reading. The market participants awaited Federal Reserve’s future steps, as the figure could seemingly push them to increase their interest rates in the upcoming meetings. United States President Joe Biden remarked that the report “shows some progress in the fight against higher prices.” The Dow Jones Industrial Average surged by 1.19% or 345 points at 11:24 am ET, after briefly jumping over 500 points minutes earlier. At the same time, the Nasdaq 100 rose by 0.66% and the S&P 500 gained 0.86%. The euro rose 0.67% against the American currency, going for $0.97682 at 11:30 am ET. NN: let me help you make since of all this. The market celebrated the last bad high inflation report. The backwards looking data will catch up with reality. And that is the fact inflation has peeked and will moderate. Bottom line interest rates are peeking and come January will be coming down…. and in a dramatic fashion. We will look in rates over the next few months. Consider this your two minute warning!!