Nasdaq Jumps 1.5% at Open as Oil Retreat Eases Fed Hike Fears
IXIC sits 27% above its 52-week low of $20,690.249 on light trading volume (0.3× avg).
Summary
The Nasdaq Composite opened 1.54% higher at 26,377.864 on Thursday, extending the rebound from the prior session's Fed rate hike. The move follows the central bank's quarter-point increase and signal of one more hike, with easing oil prices providing relief after weeks of Middle East-driven volatility. The index is trading near its 52-week high, reflecting renewed risk appetite. Stocks climbed as markets retraced post-Fed moves, according to the Wall Street Journal. Traders will watch whether the gains hold through the session and whether oil continues to retreat.
At the time of this announcement, IXIC was trading at $26,357.48 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.