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Wall Street opened higher on Thursday after Fed cuts

2019-09-19 02:31 pm | Resource: | No Views : 20

 Wall Street opens higher after Fed cuts

Wall Street opened higher on Thursday after the US Federal Reserve cut interest rates by 25 basis points to 1.75% -2% due to lower inflation and global economic outlook. The move was first criticized by President Donald Trump, but he later described it as "good."

Meanwhile, oil prices rose as reports indicated that Saudi Arabia might not be able to meet demand in the wake of Saudi Aramco attacks and the US Labor Department announced that initial jobless claims in the US increased by 2,000 to 208,000 in the week ending September 14.

Initial jobless claims in the US amount to 2,000 to 208,000

Initial jobless claims in the United States for the week ending September 14 increased by 2,000 compared with the previous week's revised figure to 208,000, the Labor Department reported on Thursday. The four-week moving average was 212,250, down 750 from the previous week's revised rate.

The seasonally adjusted insured unemployment rate for the week ending September 7 was 1.2%, unchanged from the previous week. The seasonally insured unemployment rate during the same week reached 1,661,000, down 13,000 from the previous week's revised figure. The four-week moving average was 1,677,500, a decrease of 3,750 compared to the previous week's revised average of 1,681,250.

Microsoft reaches a new all-time high

Microsoft posted a new all-time high of $ 141.68 per share on Thursday, leading gains on the Nasdaq. The move came after the company announced it was working with ISP Nextlink on 9 million points in the United States. The company also partnered with Eros International Plc on an online video platform for Microsoft Azure cloud computing.

Microsoft shares traded 1.95% and went up to $ 141.22 a share at 9:45 am ET. The company operates even the most valuable publicly traded company in the world, with a market capitalization of over $ 1.08 trillion.

US stock openings
  • The Dow Jones Industrial Average was 0.30% at 15:35 CET.
  • The Nasdaq 100 rose 0.20% at 15:30 CET led by MicroSoft, which gained 1.67% at 15:32 CET
  • The S&P 500 rose 0.14% at 15:30 CET. L Brands jumped 1.96% at 1535 CET.


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