U.S. stocks rise as traders await Fed; dollar declines - BNN Bloomberg

U.S.-listed Chinese stocks soared in premarket trading, tracking an earlier rally in Chinese markets on speculation that the country's policymakers are looking to gradually unwind its stringent COVID policy, even as the country's Foreign Ministry said it was unaware of such a plan.

Still, strategists including JPMorgan Chase & Co.'s Marko Kolanovic believe the Fed's aggressive hiking is nearing an end, providing the prospect of relief for markets. The U.S. will likely raise rates by 50 basis points in December and pause after one more 25-basis-point hike in the first quarter, he said.

“If the Fed does give us some indication that there is light at the end of the tunnel, we are very close if not already past peak dollar,” Mark Matthews, head of Asia research at Julius Baer said on Bloomberg TV. “Then all the currencies which have declined like the euro will rebound.” Among other moves, shares in European online retailers and food delivery firms rallied on Tuesday as Ocado Group Plc jumped after its deal with South Korea's Lotte Shopping Co.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. stocks mixed before earnings, Central bank moves - BNN BloombergStocks were mixed at the start of another busy week of earnings and key central bank decisions.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

U.S. futures decline ahead of Fed rates decision, earningsWall Street futures pointed modestly lower and world stock markets were mixed on Monday ahead of what is expected to be a Federal Reserve decision this week to raise interest rates again.
Source: CTVNews - 🏆 1. / 99 Read more »

The Week Ahead: Earnings from Rogers; Canadian labour force survey - BNN BloombergA look at what investors will be watching in the upcoming week
Source: BNNBloomberg - 🏆 83. / 50 Read more »