Shanghai, Tokyo and Sydney advanced. Hong Kong declined. Oil prices fell more than US$1 per barrel to stay below $100.
“Stocks rose because runaway commodity and oil prices are sinking,” said Stephen Innes of SPI Asset Management. “Both are the critical targets Fed policy is engineered to tame; hence, inflation expectation is coming under control.” On Wall Street, the S&P 500 rose to 3,845.08. The The Dow Jones Industrial Average gained 0.2% to 31,037.68. The Nasdaq composite added 0.3% to 11,361.85.
Inflation has been boosted by Russia's attack on Ukraine, which pushed up prices of oil and other commodities, and Chinese anti-virus controls that shut down Shanghai and other industrial centres disrupted supply chains.
Wait....what? Didn't the Asian markets take a hit the last time the Fed said they'd be raising rates?
Ok let’s just get it done. Let’s go back to 1982 and set the prime rate to 21% when JT’s PET WAS IN POWER 🖕🖕🖕 to Canadians
IStandWithDutchFarmers