Stocks rally after Fed, US data; yen strengthens

NEW YORK, May 2 - A gauge of global stocks climbed on Thursday after the Federal Reserve indicated it was keeping a dovish tilt, while the yen retreated after another suspected round of intervention by the Bank of Japan.

The U.S. central bank also said it would slow the speed of its balance sheet drawdown starting on June 1 to ensure this process does not create undue stress in financial markets. "Jobless claims at 208,000 today help affirm that but the labor market report tomorrow will be the big one and affirm the Fed's view of how strong is strong."

The Dow Jones Industrial Average , opens new tab rose 318.95 points, or 0.84%, to 38,222.24, the S&P 500 , opens new tab gained 44.61 points, or 0.89%, to 5,063.00 and the Nasdaq Composite , opens new tab gained 224.34 points, or 1.44%, to 15,829.82. The Japanese yen also remained in focus, as another round of intervention in the currency was suspected shortly after Powell had finished speaking, the second such event this week.

U.S. Treasury yields were choppy in the wake of the Fed and economic data, as the yield on benchmark U.S. 10-year notes fell 1.8 basis points to 4.573%, from 4.591% late on Wednesday. The 2-year note yield, which typically moves in step with interest rate expectations, fell 5.2 basis points to 4.8872%, from 4.939%

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.

Stock market today: Stocks rally after Fed decision as Powell soothes rate nervesFed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Premarket: U.S. futures steady ahead of big bank earningsEuropean stocks gain, dollar strong as traders cut Fed easing bets
Source: globeandmail - 🏆 5. / 92 Read more »

Stocks jump, close higher coming off of Fed's rate holdUS stocks pop Thursday as market indices (^DJI, ^IXIC, ^GSPC) close the session higher, the Dow Jones Industrial Average rising by 323 points and the Nasdaq ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

European Stocks Slip Amid Earnings Flood, Fed Rate SignalsEuropean stocks posted modest losses on Thursday, pressured by drops across retail and technology and the prospect of higher-for-longer US interest rates. Drugmaker Novo Nordisk A/S slid after sales of its weight-loss drug underwhelmed.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stocks open higher day after Fed decision to hold ratesAll three of the stock market indexes (^DJI, ^IXIC, ^GSPC) are swinging into the green after Thursday's market open. This comes a day after the Federal...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks soothed by Fed signals ahead of Apple earningsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »