Stock markets give up their 3-day fall a few hours before the meeting of Fed and started to rise. The US stock exchanges rallied after 3 days of recovery in tech stocks.
The S & P 500 Index rose 0.3% to 2,436 points which closed with a 0.1% drop in sales of technology companies the day before. The Dow Jones Index rose 0.2% today to 21,280 points.
Technology shares rose to the highest level in more than a week with 0.8%. Apple, Facebook and Netflix shares rose. State Street Corp. and Comerica led the increase in the finance sector by at least 1.7%.
On the other hand Oil companies saw a steady decline in energy companies.
The two-day monetary policy meeting of the US Federal Reserve started on 13th of June. The possibility of an increase in interest rate at this meeting is 97%. The Central Bank will thus realize the second interest rate increase this year.
European stocks closed higher after the recovery in tech stocks. Stoxx Europe 600 Index climbed 0.6% and closed at 388.75 pounds.
In Germany, the DAX Index rose 0.6%, the CAC 40 in France 0.4%, and the IBEX Index in Spain 0.4%. In the UK, the Pound Sterling Index (FTSE 100) dropped 0.2%.
Investors are now focused on the Fed’s decision about the possible hikes in interest rates and the messages of President Janet Yellen.