Investors react to the monetary policy decisions of the Fed with relief

Investors react to the monetary policy decisions of the US Federal Reserve with relief. On Wall Street, the Dow Jones closed 0.3 percent higher to 36,157 points in the evening. The technology-heavy Nasdaq advanced one percent to 15,811 points. The broad S&P 500 gained 0.6 percent to 4660 points. All three market barometers reached new records. The dollar index, which reflects the exchange rate to major currencies, came under pressure and lost up to 0.3 percent to 93,871 positions. US Treasuries were also thrown out of the custody accounts. This drove the yield on landmark ten-year Treasuries to 1.596 percent. The Federal Reserve wants to reduce the volume of its securities purchases from the current $ 120 billion by $ 15 billion from mid-November. "The tapering is there and the Fed is just gently stepping on the brake pedal," said Naeem Aslam, chief market analyst at brokerage firm AvaTrade. Regardless of this, the price of WTI crude oil fell by 3.3 percent to $ 81.18 per barrel (159 liters) due to a surprisingly strong increase in US inventories. "Every price drop is an opportunity to buy," said analyst Joshua Mahoney of brokerage house IG. "Regardless of the world climate conference, I do not see any move away from fossil fuels." The wish is there, but the implementation will take time. Ethereum, on the other hand, continued to soar and rose by up to 3.1 percent to a mobile record high of $ 4643.52. The second most important cyber currency after Bitcoin continues to benefit from the hope of the early introduction of a listed fund (ETF) on this cryptocurrency, said analyst Timo Emden from Emden Research. This could attract fresh capital.