Dow rose 1.23%
The New York Stock Exchange rose as the results of the Federal Open Market Committees regular meeting released the day before were released.
On the New York Stock Exchange on the 17th, the Dow Jones Industrial Average closed at 34,480.76, up 417.66 points from the previous day.
The Standard & Poors 500 Index rose 53.81 points to 4,411.67, up 53.81 points from the battlefield, and the Nasdaq index, centered on technology stocks, closed at 13,614.78, up 178.23 points from the battlefield.
The S&P 500 and Nasdaq were up for the third consecutive trading day.
Investors were watching the effects of the Federal Reserves rate hike and the crisis in Russia and Ukraine.
The Fed raised interest rates by 25 basis points for the first time since 2018. Fed members also expected rate hikes at all six meetings this year.
Fed Chairman Jerome Powell said it would begin quantitative austerity measures to shrink its balance sheet as early as May.
The Feds rate decision was at the level expected by the market, and it was evaluated that the rate hike forecast was more hawkish than expected.
However, stocks continued their gains amid expectations that the Fed would not lag behind in its efforts to curb inflation and that it would not raise rates as expected.
Markets are watching the impact of the Feds rate hike and the economic impact of the pace of tightening thereafter.
The yield on the 10-year U.S. Treasury bond rose slightly to trade around 2.19%, and the yield on the 2-year Treasury fell by about 3bp and moved around 1.94%.
Peace negotiations between Russia and Ukraine continue.
A spokesman for the Russian Foreign Ministry said at a briefing on the same day that negotiations between Russia and Ukraine continued via video connection.
A Kremlin spokesperson said it was wrong to report that the peace negotiations between Russia and Ukraine were making substantial progress, but the mayor seemed to ignore it.
It was also reported that US President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call on the 18th.
The call between President Biden and President Xi is noteworthy as it is the first direct communication between the leaders of the United States and China amid heightened tensions over Russias invasion of Ukraine.
The Bank of England, the central bank of the UK, has raised its key interest rate by 0.25 percentage points to 0.75% to curb inflation. This is the third consecutive increase since the increase in December. The decision came a day after the Feds rate hike.
All 11 sectors of the S&P 500 rose, and energy-related stocks rose more than 3% thanks to the rise in oil prices.
Consumer discretionary, materials, health, real estate, industrial and financial-related stocks all rose more than 1%.
New York stock market experts said the Feds rate hike was a positive factor for the market as it reflected the positive fundamentals of the US economy.
Jim Paulson, chief investment strategist at the Reutthold Group, told the Wall Street Journal that volatility could remain until the situation in Russia becomes clearer, but fundamentally it has really good fundamentals.
Adrian Zucker, head of global asset allocation at UBS, also told the Wall Street Journal that the Feds stance has been more hawkish, but the Fed wants to try a soft landing, which is quite positive for real stocks.