LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall St opens higher on Yellen's rate hike comments

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Jul 12, 2017
07:40 pm
Reuters

U.S. stocks opened higher on Wednesday after Federal Reserve Chair Janet Yellen said interest rates hikes would be gradual and will not have to rise much further to reach neutral rate.

Yellen, in a prepared testimony to be delivered to Congress at 10 a.m. ET (1400 GMT), said the economy is healthy enough to absorb further gradual rate increases and the slow wind down of the Federal Reserve`s massive bond portfolio.

The testimony depicted an economy that, while growing slowly, continued to add jobs, benefited from steady household consumption and a recent jump in business investment.

Investors and some Fed officials, concerned with the recent dip in inflation, have been wanting to see a surer progress toward the central bank`s goal of 2 percent inflation.

Yellen ascribed the inflation drop to "a few unusual reductions in certain categories of prices" and said it would eventually drop out of the calculation.

"I`m not very surprised by Yellen`s comments. She`s been pretty steadfast that we`re raising rates... The market is liking the fact that she`s seeing economic growth," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

"What the Fed`s doing and she`s doing is continuing the case for raising rates."

The U.S. central bank will also issue its Beige Book at 2 p.m. ET, a compendium of anecdotes on the health of the economy. The Fed`s next policy meeting is on July 25-26.

At 9:38 a.m. ET, the Dow Jones Industrial Average was up 133.61 points, or 0.62 percent, at 21,542.68, the S

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Punjab Educational Institutions News: All educational institutions and coaching centres in the state closed till April 30, night curfew returns - check timings and other COVID guidelines

Mid-Cap Picks with Anil Singhvi: IEX, Orient Refractories and Fermenta Biotech shares are top recommendations today

NURECA Share Price hits 5% UPPER CIRCUIT today; has shot up nearly 30% in last 1 week

Earth Day 2021: WhatsApp rolls out this cool sticker pack with a message

Mindtree's order book is very strong: Dayapatra Nevatia, ED & COO

Check best Ram Navami 2021 WhatsApp status, DP, stickers, GIFs, wishes, quotes, messages and greetings

ACC soars over 4% on strong RESULTS, Expert says BUY for price target of Rs 2060, support at Rs 1850

Vaccine cheer: Pharma stocks hit new life-time highs, RPG Lifesciences, Panacea, Cadila surge the most

Expert says BUY SBI stock, price target Rs 430, stop-loss Rs 310

ICSE ISC Board Exam CANCELLED 2021: Attention CISCE class 10 class 12 candidates! ICSE class 10 board exam CANCELLED, ISC class 12 board exam POSTPONED

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved