The Federal Reserve raised interest rates, and the Dow Jones Industrial Average has risen for 13 consecutive days. The S&P 500 Index turned lower from its daily high, while the Chinese concept stocks index reached its highest level in over four months.

The Federal Reserve raised interest rates as scheduled by 25 basis points. Powell stated that there will be no rate cuts this year and multiple voting members support multiple rate cuts next year. At one point, US stocks reached a new daily high, while US bond yields and the depreciation of the US dollar expanded to a daily low, moving away from a two-week high. The Dow Jones Industrial Average recorded its longest gain since January 1987, with Boeing, one of its components, rising nearly 9% to a 20-month high. Google Class A shares rose 6% to over a 15-month high, and Meta's earnings report led to a post-market increase of over 7%. West Pacific United Bank rose 27%, while XPeng Motors soared 42% during trading and closed with a nearly 27% gain. NIO rose nearly 11%. After the interest rate hike, gold prices expanded to a one-week high, while wheat futures fell 6.5% during trading, reaching the deepest level in eight months, and cocoa futures hit a new high. Oil prices fell by about 1%, falling below a three-month high, and European natural gas fell by about 11%. Offshore renminbi broke through 7.16 yuan and rose above 7.15 yuan.