Federal Reserve Chairman gives push on the New York bags – Express

The New York stock markets closed Tuesday in positive territory after Janet Yellen, the president of the Federal Reserve (Fed), have declared mid-morning (local time) that the central bank will proceed with caution as the new increases in interest rates.

After an opening in the red, with a drop of 0.3% in the two main indices on Wall Street and Nasdaq (the exchange of technology), the Dow Jones ended 30 to close on Tuesday with a gain of 0.56%, the S & P 500 advanced 0.93% and the Nasdaq rose 1.67%. At the sitting of Monday, when the New York exchanges reopened after a holiday on the previous Friday, the stock market index MSCI to the United States closed gaining 0.05%.

risks that require caution

Yellen said today at a conference organized by the Economic of the New York Club, entitled “the Outlook, Uncertainty, and Monetary Policiy” that “global developments and risks led makers [monetary policy] to project a slower way as to rising interest rates than originally planned in December [at the meeting of the Fed on 15 and 16 December 2015, when he decided to go up by 25 basis points rate reference interest that left the level of 0%]. ” The three main risks pointed out by the Economist cover the volatility of oil prices (which then have risen 57% between January 20 and March 18, has been on a downward trend); uncertainty about the degree of slowdown of the Chinese economy; and the evolution of inflation, with the pressure to disinflation (inflation rate of descent) in consumer prices and deflation in industrial prices.

As a result of these statements the chances of a further rise in interest rates They have changed in the futures market. On Monday, a higher probability to 50% recorded up to the meeting of 27 July; after the statements of the president of the Fed, a 50% went to check up to the meeting of 21 September. According to the futures market of central bank interest rates, it seems to put aside the possibility of a rise in interest rates including at the next meeting on April 27, suggested by Dennis Lockhart, president of the Federal Reserve of Atlanta , one of the regional Fed system banks.

Europe closes with gains except London and banks dominate losses in Lisbon

European shares opened Tuesday session on “mixed” land with Paris and Amsterdam registering gains and Milan, Frankfurt and London with losses. However, the European session closed in positive territory, with the exception of London where the FTSE 100 index fell slightly 0.01%. It was the first session in Europe after holidays on Friday and Monday. The largest increases were recorded in Athens bags, where the general index rose almost 2%, and in Dublin, where the ISEQ index rose 1.14%.

The current, the stock Lisbon, where the PSI 20 index closed losing 1.03%, strongly pressured by falls of more than 6% in the shares of two banks, BCP and BPI.