US stocks out of session due to the Fed expected inflation to rise this year


US stocks closed flat on Wednesday, with the index taking the early gains after the Federal Reserve (Fed / Federal Reserve) said inflation is expected to soar this year, suggesting the Fed is still likely to raise interest rates in March.

The Federal Reserve kept interest rates unchanged, and reiterated in a statement released after the two-day meeting was concluded that economic performance is still expected to provide the basis for "further and step-by-step" rate hikes.

"The message is that they will keep raising rates," said Scott Kimball, managing director and portfolio manager at BMO Global Asset Management.

The Federal Reserve raised interest rates three times last year and is expected to raise interest rates three times this year, though it will still basically contract according to the pre-set schedule.

"They are more confident about the inflation they are expecting to rise," said Kevin Logan, chief US economist at HSBC Securities.

A report released Wednesday by the ADP showed that private employment increased 234,000 in January, above the analysts' estimate of 185,000, and the data reinforces the Fed's view that the economy is robust. The U.S. Labor Department will release a more comprehensive employment report on Friday.

The Dow Jones industrial average DJI gained 72.5 points or 0.28% at 26,149.39 and the S & P 500 gained 1.38 points or 0.05% at 2,823.81. The Nasdaq index was up 9.0 points or 0.12. % To 7,411.48 points.

US stocks boosted sharply higher Boeing shares earlier on Wednesday after the company reported higher-than-expected full-year profit forecasts and commercial aircraft delivered by 2018 will hit record highs with Boeing soaring 4.9%.

<>US stocks out of session due to the Fed expected inflation to rise this year
<>US stocks out of session due to the Fed expected inflation to rise this year

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