US Federal Reserve'S Latest Decision On Small Stock Market Opening

During the early trading of US stocks on Wednesday, the market was slightly higher, waiting for the results of the latest interest rate meeting released by the Federal Reserve at 2:00 p.m. Eastern time (2:00 a.m. Beijing time) and a press conference to be held by Chairman Powell at 2:30 p.m. On Tuesday, the Federal Reserve announced that it would extend its emergency lending program to the end of this year, which strengthened the market's expectation that the Fed would adopt super loose policy, so there was a general consensus that the Fed would keep short-term interest rates near zero at this meeting.

However, the only thing that will trigger market volatility is the dovish attitude of the fed towards future policy. On Monday, U.S. Senate Majority Leader McConnell announced the Republican Party's new $1 trillion rescue plan for the new coronapneumonia epidemic, representing the resumption of negotiations between the two parties on a new round of economic stimulus plan. The market is closely watching whether Powell supports the plan. Prior to this, Powell has repeatedly called on the U.S. Congress to introduce more fiscal rescue plans to assist monetary stimulus policy to fully support the U.S. economic recovery. Wall Street analysts believe that if Powell's comments are more dovey than market expectations, inflation expectations will be further pushed up, and commodity prices such as gold and silver have room for further increase.

The Dow Jones industrial average was up 19.0% on Wednesday morning, with the Nasdaq composite index up 10.0% at the end of 1948.