Dow posts 13-day winning streak, longest since 1987

Dow posts 13-day winning streak, longest since 1987

Blue-chip index gains 82 points, or 0.23%

By Ovunc Kutlu

ISTANBUL (AA) - The Dow Jones posted a 13-day winning streak Thursday, the longest since January 1987, after the conclusion of the Federal Reserve's meeting.

The blue-chip index was up 82 points, or 0.23%, to finish at 35,520.

The S&P 500, on the other hand, was flat, closing the day unchanged at 4,566. The Nasdaq fell 17 points, or 0.12%, to 14,127.

The Fed raised its benchmark interest rate by 25 basis points, as expected, carrying it to its highest in more than 22 years.

Chair Jerome Powell left the door open for another hike of 25 basis points this year.

"I would say it is certainly possible that we will raise funds again at the September meeting if the data warranted," he said in a post-meeting news conference. "I say it is possible that we would choose to hold steady and we are going to be making careful assessments meeting by meeting.”

The VIX volatility index, also known as the fear index, plummeted 4.9% to 13.18. The 10-year US Treasury yield, meanwhile, shed 1.1% to 3.873%.

The dollar index decreased 0.33% to 101.01, while the euro added 0.3% to $1.1086 against the greenback.

Precious metals were in positive territory, with gold rising 0.4% to $1,973 per ounce and silver adding 1.1% to $24.95.

Oil prices were down around 0.8%, with global benchmark Brent crude at $82.63 per barrel and US benchmark West Texas Intermediate at $78.94.



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