US stocks bounce, investors digest news of 2022 rate hikes - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 11/01/2022 7:17 p. m.
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US stocks bounced and Treasury yields retreated on Tuesday in choppy trade as investors absorbed remarks from the Federal Reserve that interest rates are likely to rise this year, as expected.

In comments to US lawmakers, Federal Reserve Chairman Jerome Powell said he expected the Fed would raise rates and end its asset purchases this year, but that the central bank had made no decision about the timing for tightening monetary policy.

The pan-European STOXX 600 index rose 0.84% and MSCI’s gauge of stocks across the globe gained 0.72%. Some investors were relieved that the Fed did not sound more hawkish than the market had anticipated in its latest remarks, and this helped Treasury yields pull back a touch from two-year highs struck earlier.

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