New York, Sep 22 (IANS) US stocks opened higher on Monday, rebounding from heavy losses, as investors continued to digest the Federal Reserve’s decision to keep interest rate unchanged.
The Wall Street suffered big losses on Friday, as the Fed’s decision to leave interest rates near zero triggered increasing concerns about a slowdown in global growth.
“Such is the ‘hypothetical’ cost of uncertainty. Today, at least is a new day,” said Stephen Guilfoyle, managing director at Deep Value, on Monday, Xinhua reported.
According to the central bank’s statement on Thursday, the Federal Open Market Committee will assess both realised and expected progress toward its objective of maximum employment and two percent inflation in its consideration of when to raise the benchmark interest rate.