Spain's Ibex 35 Rises 1% Despite Fed Interest Rate Hike
Listen to the story
Spain's stock market went up on Wednesday. The Ibex 35 is the main stock index in Spain. It rose by 1%. It went above 19,800 points.
This happened after the Fed made a decision. The Fed is the central bank of the United States. It raised interest rates. Higher interest rates can sometimes make stock markets go down. But the Ibex did not go down.
News writers said the Ibex 'did not feel scared' by the Fed. This means the Spanish market stayed strong even after the news.
At the same time, the price of oil fell. Oil went down to 103 dollars a barrel. A barrel is a way to measure oil.
Investors watch news like this every day. They use it to decide when to buy or sell shares.
Vocabulary8 words
- stock index
- a number that shows how many companies' shares are doing
- points
- small units used to measure a stock index
- Fed
- the central bank of the United States
- interest rates
- the cost of borrowing money
- oil
- a liquid used to make fuel and energy
- dollars
- the money used in the United States
- barrel
- a container used to measure oil
- shares
- small parts of a company that people can buy
Quiz
Answer key
1. It rose 1% 2. Raised interest rates 3. False
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Spain's stock market went up on Wednesday. The Ibex 35 is the main _____ in Spain. It rose by _____. It went above 19,800 _____.
This happened after the _____ made a decision. The Fed is the central bank of the United States. It raised _____. Higher interest rates can sometimes make stock markets go down. But the Ibex did not go down.
News writers said the Ibex 'did not feel scared' by the Fed. This means the Spanish market stayed _____ even after the news.
At the same time, the price of _____ fell. Oil went down to 103 _____ a _____.
Investors watch news like this every day. They use it to decide when to buy or sell _____.