Investing.com – A quick look at the top 5 things that rocked U.S. markets this past week.
The Federal Reserve hiked rates
The Federal Reserve on Wednesday, raised interest rates by 0.25% to a target range of 0.75% to 1% but kept its previous forecast of three rate increases this year unchanged.
U.S. oil inventories fell for first time nine weeks
U.S. crude futures ended a 7-session losing streak to settle 2% higher on Wednesday, after U.S. crude inventories dipped for the first time in nine weeks.
Intel agreed $15.3 deal for Mobileye
Intel (NASDAQ:INTC) agreed a $15.3 billion deal for Mobileye (NYSE:MBLY) on Monday, which valued the Israel company at $63.54 a share. The deal, represents the largest ever acquisition of an Israeli technology company as the U.S. chip giant seeks to make a big push in the autonomous driving sector.
Gold found its glitter
Gold jumped from $1,200 an ounce to end the week more than 2% higher. The yellow-metal benefited from a slump in the dollar, after the Federal Reserve adopted a less aggressive outlook than expected on the pace of rate hikes this year.
The dollar fell to a 5-week low
The U.S. dollar index dipped below the 100 level for the first time in five-weeks, after the Federal Reserve kept its previous outlook of three rate hikes unchanged for this year against expectations from market participants that the U.S. central bank was poised to adopt a more aggressive stance concerning the pace of rate hikes in 2017.