After a choppy day on Thursday, US equities ended higher, with the Dow Jones gaining about 200 points and the S&P 500 and Nasdaq both advancing over 0.5%, supported by financial institutions and healthcare businesses.
Investors considered statements made by ECB President Christine Lagarde and Fed Chair Jerome Powell about the necessity of bringing inflation down to their respective targets. Powell further quenched rumors of an impending policy shift by reasserting that the central bank would do whatever it took to control inflation at a talk at the Cato Institute. Lagarde expressed a similar opinion on the need to restrain price increases while highlighting a dimming growth prognosis for the eurozone.
In Europe, the ECB announced a rate increase of a record 75 basis points. On the stock market, GameStop gained more than 6% after announcing a collaboration with bitcoin exchange FTX US. In the past, the United States Stock Market Index (US30) peaked in January 2022 at 36952.65 points. By the conclusion of this quarter, the United States Stock Market Index (US30) is anticipated to trade at 30484.64 points.