News Formal

Stocks gain for a second day on easing inflation hopes, Nvidia leads Nasdaq higher: Live updates

  • 📰 CNBC
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Stocks rose Thursday, as hope over easing inflation and gains in tech helped Wall Street claw back more of this week's losses.

Federal Reserve Chair Jerome Powell said inflation is nearing the point where officials would feel comfortable about cutting interest rates. 'We're waiting to become more confident that inflation is moving sustainably at 2%.

When we do get that confidence, and we're not far from it, it will be appropriate to begin to dial back the level of restriction,' Powell said Thursday during testimony before the Senate Banking Committee. He noted that cuts would be necessary 'so that we don't, you know, drive the economy into recession rather than normalizing policy as the economy gets back to normal.

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:

 /  🏆 12. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks are little changed Tuesday as traders assess fresh earnings and new data: Live updatesStocks were flat Tuesday as the market rally took another breather, with investors looking ahead to key data slated for release later this week.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia rally is fueling FOMO in the overall market, Evercore's Julian Emanuel warnsEvercore ISI's Julian Emanuel finds clients are more worried about being underinvested than overexposed right now.
Source: CNBC - 🏆 12. / 72 Read more »