New York Stock Market Dow Jones Industrial Average Up Slightly, Fed Chairman's Remarks Not Expected

The Dow Jones Industrial Average (DJIA) closed at $33,945.58, up $68.61 from the previous day, as the much-anticipated testimony by Federal Reserve Chairman Jerome Powell was seen as within expectations.

The New York Stock Exchange Dow Jones Industrial Average closed at $33,945.58, up $68.61 from the previous day.

On the day, Fed Chairman Jerome Powell, who attended a House of Representatives hearing, said that the Fed would not raise interest rates on a precautionary basis and that a shift in monetary policy would come after confirming a stable rise in prices, easing the market's caution about a premature rate hike and leading to buying orders.

The Nasdaq stock index, which is dominated by IT-related stocks, also rose, hitting an all-time high.

Market participants refrained from aggressive trading due to the focus on Chairman Powell's remarks, but the content of his remarks was generally perceived to be within the expected range," said a market participant.

Source: https://www3.nhk.or.jp/news/html/20210623/k10013099021000.html?utm_int=news-business_contents_list-items_009