(IXIC) FOMC Meeting Minutes Drives Nasdaq Up
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Summary:
- Nasdaq rises in the wake of Fed meeting minutes
Nasdaq gains 1.5% on Wednesday
On Wednesday the Federal Reserve's May meeting minutes confirmed that the Fed officials are keeping a 50bps interest hike on the table for the next few meetings. This pushed U.S stocks higher after a volatile day on the market, the Fed has seemingly instilled investors with confidence that they will try and regain control of the current rising prices.
Investors have gotten a taste of the effect rising prices have had on company earnings across the board, the Feds commitment to try and reign in the rising prices is driving the Nasdaq and other indices upwards.
IXIC Price Chart
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Sources: finance.yahoo.com
