Federal Reserve chair signals slowdown in rate hikes, stocks rally on Wall Street

U.S. Federal Reserve Chair Jerome Powell, speaking at the Brookings Institution, reaffirmed that the central bank could begin moderating its pace of rate hikes as soon as December, when its policymaking committee is due to hold its next meeting.

Powell's comments sent Treasury yields sharply lower. The yield on the 10-year Treasury dropped to 3.65% from 3.75% late Tuesday. The yield on the two-year note, which tends to track market expectations of future Fed action, fell to 4.34%. It was trading at 4.48% late Tuesday and had been as high as 4.53% shortly before Powell's speech.

Major indexes have been unsteady all year as the economy and financial markets dealt with stubbornly hot inflation and the Fed's attempt to cool high prices with aggressive interest rate increases. More than 95% of the stocks in the benchmark S&P 500 index notched gains Wednesday, with technology companies leading the gains. Apple rose 4.9% and Microsoft jumped 6.2%.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Stock market news: Dow, S&P 500 and the Federal ReserveThe stock market will respond to reports on GDP and jobs, speeches by Jerome Powell and Janet Yellen, and to business leaders speaking at the DealBook conference Wednesday.
Источник: CNN - 🏆 4. / 95 Прочитайте больше »

Stock Market Today: Dow Gains Over 700 Points After Fed Chair Powell's SpeechStocks rallied, with the Dow rising more than 700 points to exit a bear market
Источник: WSJ - 🏆 98. / 63 Прочитайте больше »