Frankfort, New York After the recent slide in prices, investors are taking the opportunity to re-enter the US stock market. However, the uncertainty about the speed of the expected US interest rate hikes dampened the buying mood. The standard value index Dow Jones closed 1.4 percent higher on Wednesday at 31,581 points. The tech-heavy Nasdaq advanced 2.1 percent to 11,791 points. The broad S&P 500 gained 1.8 percent to 3979 points. In the previous weeks they had lost a total of around ten percent.
In the forex market, the dollar index, which tracks rates against major currencies, hit 110.79 for the fourth time in five days, a 20-year high before profit-taking pushed it to 109.57. “I wouldn’t be surprised if the Fed was worried about the currency’s performance,” said analyst David Madden of brokerage firm Equiti Capital.
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