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Wall Street Opens Mostly Higher as Tightening Fears Ease a Little; Dow up 15 Pts -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com — The U.S. stock market recovered slightly from Thursday’s brief decline to trade higher as worries about the pace and extent of Federal Reserve monetary policy tightening this year decreased a bit.

At 9:45 ET (1445 GMT), there was a 17 point increase in the at 36,424. However, the and the were both up by 0.2% to 0.4%, respectively. 

On Wednesday, the Nasdaq experienced its worst day for 11 months. It fell over 3%. The S&P had also fallen nearly 2% and the Dow had only escaped the carnage by virtue of its heavier weighting of financial stocks, for whom the prospect of higher interest rates is something usually to be welcomed.

Markets were rattled by the Fed’s minutes from December, which was published Wednesday. They suggested that the Fed could raise interest rates as soon as March. Some Fed policymakers have already called for an end to bond purchases, which had supported market liquidity and increased risk appetite over the past two years.

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