NEW YORK, Nov 2 - Global stock indexes rallied and the U.S. dollar fell on Thursday on investor optimism that the Federal Reserve may be done hiking interest rates, while benchmark 10-year Treasury yields fell to three-week lows.
Even though neither the Fed nor the BoE signalled that rate cuts were likely any time soon, just the glimpse of light at the end of the tunnel after 20 months of relentless hiking was enough to recharge the bulls. In stocks, the Dow Jones Industrial Average rose 389.08 points, or 1.17%, to 33,663.66, the S&P 500 gained 62.04 points, or 1.46%, to 4,299.9 and the Nasdaq Composite added 176.79 points, or 1.35%, to 13,238.25.
"But at the same time, everyone is looking at a slowdown and inflation is going in the right direction," Bechtel said.Sterling, meanwhile, held firm after the BoE decision. The pound rose as much as 0.6% against the dollar to $1.2225, its highest level in 1-1/2 weeks. It was last up 0.2%.
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:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Premarket: World stocks edge higher before Fed, yen intervention alarms flareThe U.S. Federal Reserve is widely expected to hold interest rates unchanged in its policy decision, due later in the day
Source: globeandmail - 🏆 5. / 92 Read more »
Wall St wavers ahead of Fed decision; investors assess earningsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Stocks tiptoe higher before Fed, yen intervention alarms flareKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Futures dip ahead of Fed policy decision, more earnings on tapKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »