Global stock markets simultaneously increased points in the trading session on September 17 (local time). Wall Street led the recovery after an initial decline due to the US Federal Reserve (Fed)'s interest rate hike move.
Closing the session, the Dow Jones industrial index increased by 0.6% to 51,778.04 points; S&P 500 increased by 1.1% to 7,637.76 points, while the technology-oriented Nasdaq index broke through the strongest with an increase of 1.7%, closing at 26,418.30 points.
Green color also spread to Europe when the FTSE 100 index in London increased by 1.2% to 10,816.14 points, the German DAX increased by 0.7% to 25,716.71 points and the CAC 40 in Paris increased by 0.6% to 8,186.93 points.
A day earlier, the Fed raised interest rates for the first time since 2023, ignoring downward pressure from President Donald Trump. Fed Chairman Kevin Warsh affirmed that the agency is determined to curb inflation, which has been at a too high level for too long.
Market sentiment was further supported when Brent crude oil prices fell 1% to 104.82 USD/barrel and WTI oil fell to 101.91 USD/barrel.
Concerns about supply disruptions cooled down after Saudi Arabia announced it was restoring about half of the capacity of the East-West pipeline to the Red Sea, which was interrupted by Houthi attacks. Riyadh also proactively supplied additional crude oil to Asian refineries through ship transfers off the coast of Sohar port in Oman.
However, analysts at JPMorgan Chase warn that the market still faces many unpredictable geopolitical uncertainties, especially the scenario of oil prices above $100 extending when there is no downward signal between the US and Iran in the Strait of Hormuz.
Public opinion is currently focusing on the summit expected to take place on September 24 between President Donald Trump and Chinese President Xi Jinping in Washington.
