Dow jumps over 150 pts in premarket on Fed policy change
Shares on Wall Street moved higher during premarket trading on Friday following the latest update on monetary policy from the Federal Reserve. In the aftermath of the coronavirus crisis, Fed Chairman Jerome Powell said officials will now seek inflation that averages 2% over time, allowing low rates over a longer period of time.
In other news, Walmart joined Microsoft’s bid for the US operations of TikTok, while Oracle is reportedly willing to pay $20 billion for the popular video-sharing app.
The Dow Jones was up 171 points at 4:25 am ET. At the same time, the S&P 500 jumped 0.51%, while the Nasdaq 100 rose 0.34%. The euro advanced 0.73% against the dollar at 4:30 am ET, buying 1.19084.
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