The S&P 500 jumped as much as 2.8% and the tech-heavy Nasdaq 100 rose as much as 3.9% before paring gains. Treasuries rallied, with the policy-sensitive two-year Treasury yield sinking more than 15 basis points after aposted the smallest monthly advanced in more than a year. The greenback halted a two-day rally.The Fed is largely expected to raise rates by half a percentage point Wednesday, slowing the pace of increases.
“While the war against inflation is turning, we are a long way off declaring victory and the Fed will keep its hawkish stance for a while longer, even if it does potentially force a recession,” said Richard Carter, head of fixed interest research at Quilter Cheviot.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Oil rebounds as key pipeline remains shut and China eases curbsOil rebounded as a key North American pipeline remained shut and on the potential boost to demand from the easing of virus curbs in China.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Cartoon Tuesday with RicoDefend Truth
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Chinese property tycoon to sell stake as share sales ramp upThe billionaire owner of Country Garden Holdings Co is selling a stake in a unit to raise about $650-million amid a flurry of share sales by cash-strapped Chinese developers. Seems the Chinese economy is more bedraggled kitten than roaring tiger.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Uber conducting probe after vendor hit with cyberattackUber Technologies said it’s investigating the hack of a third-party vendor that reportedly resulted in the leak of data from the ride-hailing company, including employee email addresses.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Twitter blue service is back, including ‘verified’ badgesTwitter resumed selling its Twitter Blue premium offering, which gives users a blue verification badge by their names, following a weeks-long pause because some subscribers were using the paid service to impersonate well-known accounts.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Billionaire Scaffolding ‘King’ Guilty of Bribing Rugby BossA French billionaire known as the “king of scaffolding” was found guilty of corruption in connection with his construction company’s sponsorship deal with the French national rugby team.
Source: dailymaverick - 🏆 3. / 84 Read more »