Pedestrians pass in front of the New York Stock Exchange earlier this week. Photo: Michael Nagle/Bloomberg via Getty Images: the S&P 500 closed up over 5%, while the tech-heavy Nasdaq Composite jumped 7% — the biggest rally in more than two years.: Signs of easing price pressures are helping to feed a powerful recovery for a stock market battered by the Federal Reserve'sThe bond market rallied, too. The yield on the 10-year Treasury note dropped more than 30 basis points to 3.
The selloff has been welcomed by the Fed. So-called tightening financial conditions is how the Fed slows demand. The opposite, loosening financial conditions, may put the Fed in a potentially tricky spot — particularly if it persists. The inflation report gives Fed policymakers cover to dial back rate hikes to a half-point move. But chair Jerome Powell went to great lengths last week to signal to markets that slowing doesn'tA parade of Fed officials welcomed Thursday's softer inflation reading, but warned the battle against inflation is far from over.
Or maybe because republicans hopefully will be in charge soon?
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