Midday Market Update: Why Are Stocks Up Today?

The stock market is up slightly today and we’re going over what’s happening in our midday market update for Thursday!

A digital image of a bronze bull and bear overlaid with a technical chart and images of coins represent midday market update.

Source: Shutterstock

First off, note that the stock market has been volatile today. We initially saw many of the major indexes, such as the Nasdaq Composite, Dow Jones Industrial Average, and the S&P 500, start off down this morning. However, these later rise higher before another fall. Now, each of them are up slightly compared to yesterday’s close.

So what could be moving the stock market today? The Federal Reserve is one of the biggest factors behind stocks on the move today. Late yesterday it announced a .25% increase in interest rates. This is part of the Fed’s plan to combat rising prices from inflation.

Rising interest rates affect the stock market as various companies react differently to them. That includes it being beneficial for financial stocks, but not sitting well with investors in growth stocks.

It’s also worth noting that oil stocks are doing incredibly well today. That comes as oil prices are on the rise after recent weakness sent it into a bear market. As of this writing, the price of crude oil is up 7.7%.

Of course, there’s plenty of other stock market news that traders are going to want to know about for Thursday outside of our midday update!

Luckily for them, InvestorPlace has all the answers with our in-depth coverage of the stock market today! A few examples worth checking out include what the Federal Reserve interest rate hike is all about, Occidental Petroleum (NYSE:OXY) stock is rising, as well as the news boosting TD Holdings (NASDAQ:GLG) stock today. You can find out all about these matters by looking in on the links below!

More Stock Market News for Thursday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/03/midday-market-update-why-are-stocks-up-today-march-17/.

©2023 InvestorPlace Media, LLC