News Formal

U.S. stocks, futures extend Fed rally with ECB to come - BNN Bloomberg

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 50%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

European stocks climbed with U.S. equity futures, building on Wall Street's advance after Federal Reserve Chair Jerome Powell said the central bank had made progress in its battle against inflation.

The Stoxx Europe 600 index added about 0.6 per cent, with traders now looking ahead to the European Central Bank's policy decision later Thursday after mixed inflation data reignited debate about how much rates in the euro area should rise. Technology stocks led the advance, buoyed by an upbeat outlook from German chipmaker Infineon Technologies AG.

“The more he talked, the more dovish he was,” Charles-Henry Monchau, chief investment officer at Banque Syz, said of Powell's briefing. “It's possible we'll continue to see a series of volatility, but definitely the conditions seems to be more risk-on than last year,” he said on Bloomberg Television.

The UK's benchmark stock index underperformed and 10-year gilt yields fell more than eight basis points ahead of another expected outsized rate increase of 50 basis points by the Bank of England. The ECB is seen following with a hike of similar magnitude shortly after.

 

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

 /  🏆 83. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Crypto market flashes red ahead of Fed/Wall Street clashFOMC reportedly fears that the rising stocks market might undermine its targets. The hawkish posture unsettled markets briefly on Monday. The crypto market flashed red on 30 January, just a day before the Federal Open Market Committee (FOMC) meeting on 31 January and 1 February, 2023. A report by Bloomberg alleged that the market reaction […] Hahah eth the king of crypto
Source: CryptoAmb - 🏆 22. / 68 Read more »

Global stocks higher ahead of U.S. Fed rate decisionGlobal stocks rose Wednesday while Wall Street futures declined ahead of what traders hope will be the last Federal Reserve interest rate hike for some time. Fake news. The stock market is the greatest driver of inequality that we have today.
Source: CTVCalgary - 🏆 26. / 68 Read more »

European stocks, U.S. futures mixed ahead of Fed - BNN BloombergStocks in Europe edged higher while U.S. equity futures slipped on a day abounding with risks including key economic data, company earnings and the Federal Reserve policy meeting.
Source: BNNBloomberg - 🏆 83. / 50 Read more »