The rally in the US stock market does not seem to have stopped even after the FOMC policy meeting.
Thursday's trading saw the S&P 500 and Nasdaq continue to rally to close at 14-month highs in the New York session.
All three major indexes gained more than 1%, with the S&P 500 gaining 1.22% to 4,425.85, while the Nasdaq jumped 1.26% to 15,185.48 and the Dow Jones Industrial gained 1.2% to 34,408.07.
While the US30 index strengthened at around 34,346.50 in the Asian session.
So far in 2023, the S&P 500 is up about 15% and the Nasdaq is up about 32%, driven by signs of economic resilience, a stronger earnings season and expectations of near-peak interest rates.
Earlier, investors were shown the decision of the Federal Reserve (Fed) which decided to keep its interest rate unchanged at its latest meeting.
However, at the same time it also gave a hawkish signal that rates will continue to be raised this year with two more hikes to come.
However, the stock market dismissed the statement and instead saw the data published in the New York session yesterday as support for the Fed not to continue its tightening.
US jobless claims remained at their highest level since October 2021 for two consecutive weeks, while industrial production fell for the first time this year and retail sales data was positive.
It should be noted that although the Fed still wants to continue tightening, it can change depending on incoming data.
