Global stocks rally as Fed chair signals US rate cut

Traders work on the floor of the New York Stock Exchange. Picture: REUTERS/BRENDAN McDERMID

In his first day of testimony before congress on Wednesday, Powell confirmed the US economy was still under threat from disappointing factory activity, tame inflation and a simmering trade war, and said the Fed stood ready to “act as appropriate”. US futures pointed to a stronger opening for Wall Street as well with E-Minis for the S&P500 at 0.2%.

“Given we are in the longest expansion and have only had rates lifted to 2.5%, for me it begs the question, is a soft landing possible?” Minutes from the Fed’s last meeting, in mid-June, however, showed some policymakers felt there was not yet a strong case for easing. In fixed-income markets, the 10-year US Treasury yield fell to 2.037% after dropping on Wednesday from a three-week high of 2.113%.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

MARKET WRAP: JSE closes lower as traders await US Fed interest-rate stanceUS Federal Reserve chair Jerome Powell will testify before the US Congress on Wednesday and Thursday
Sumber: BDliveSA - 🏆 12. / 63 Baca lebih lajut »

BUSINESS MAVERICK: The fund management sector may lead us into the next global financial crisisIt’s been a decade since the last financial crisis and there are warning signs we might be heading for another one. It is a case of well-known financial institutions suddenly becoming cash-strapped and panicked clients yanking their capital at a whim. Sound familiar? But this time, it pertains to a different participant in the financial food chain. DURITZ79 This piece centres around a real issue... however, the headline is overly-dramatic and the argument weak. Do better
Sumber: dailymaverick - 🏆 3. / 84 Baca lebih lajut »

MARKET WRAP: JSE and rand firm on Powell testimony and Kganyago newsUS Fed chair Jerome Powell says trade-war uncertainties and global growth concerns are weighing on the US economic outlook
Sumber: BDliveSA - 🏆 12. / 63 Baca lebih lajut »