Stock market today: Global shares mostly rise after Fed chief's speech

📆 28/08/2023 02:11 م
📰 YahooFinanceCA

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TOKYO (AP) — Global shares were mostly higher Monday, as investors were relieved by the head of the Federal Reserve indicating it will “proceed carefully” on interest rates. France's CAC 40 added 0.8% in early trading to 7,288.58. Germany's DAX rose 0.6% to 15,730.05. Trading was closed in Britain for a bank holiday. U.S. shares were set to drift higher with Dow futures up 0.3% at 34,464.00. S&P 500 futures rose 0.2% to 4,423.50. Japan's benchmark Nikkei 225 added 1.7% to finish at 32,169.99. Au

France's CAC 40 added 0.8% in early trading to 7,288.58. Germany's DAX rose 0.6% to 15,730.05. Trading was closed in Britain for a bank holiday.

South Korea's Kospi rose nearly 1.0% to 2,543.41. Hong Kong's Hang Seng jumped 1.0% to 18,130.74, while the Shanghai Composite surged 1.1% to 3,098.64. Moody's Analytics said in a report that prospects for a rapid rebound in Asia was not to be expected, despite signs that “the global electronics cycle has bottomed out,” with chips sales stabilizing.

But Powell also took care to say he’s aware of the risks of going too far on interest rates and doing “unnecessary harm to the economy." Altogether, the comments weren't very different from what Powell said before, analysts said.

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