Investing.com -- The Dow closed sharply higher Thursday, buoyed by a slump in Treasury yields ahead of the monthly jobs report due Friday following bets that the Federal Reserve is done raising interest rates.
The main indices on Wall Street closed substantially higher Wednesday, with the blue chip Dow gaining 220 points, or 0.7%, the broad-based S&P rose 1.1% and the tech-heavy Nasdaq climbed 1.6%.Fed chairman Powell"kept the door open for a rate hike in December and beyond, noting that the Committee is not confident they have achieved a 'sufficiently restrictive' stance, Deutsche Bank said in a note.
The unchanged decision arrived despite the recent uptick in the economy, stoking hopes that the Fed isn't likely to hike rates again.that topped Wall Street estimates on both the top and bottom lines, underpinned by growth in its key China market.in the third quarter as waning demand for its Covid vaccine led to $3.1B hit from unused vaccines, sending its shares 6% lower.
Slowing job gains, which will ease pressure on wages and inflation are expected to add to bets that the Fed isn't likely to raise rates again.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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