Stocks surge, dollar falls; investors bet Fed may be done hiking rates

NEW YORK, Nov 2 - Global stock indexes jumped and the U.S. dollar fell on Thursday on investor optimism that the Federal Reserve may be done hiking interest rates, while benchmark 10-year Treasury yields fell to three-week lows. Investors also took in Thursday's actions by the Bank of England, which kept rates at a 15-year high and stressed that it did not expect to start cutting them any time soon.

78 and the Nasdaq Composite added 232.72 points, or 1.78%, to 13,294.19. Advertisement · Scroll to continue Report this ad The pan-European STOXX 600 index rose 1.58% and MSCI's gauge of stocks across the globe gained 1.96%, which would be its biggest daily percentage jump since November 2022. The moves followed sharp gains overnight in Japanese stocks. In foreign exchange, the U.S. dollar was broadly lower on the perception that U.S. rate had peaked, raising risk appetite.

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