News Formal

Global stocks up slightly as markets await outcome of Federal Reserve meeting

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

South Africa News News

While there are hopes that a banking crisis will still be averted, this outlook is being tempered by uncertainty about the US central bank’s decision on interest rates

London — World stocks were cautiously higher on Wednesday as hopes that a banking crisis would be averted were tempered by uncertainty ahead of a Federal Reserve meeting that will see the central bank caught between taming inflation and maintaining stability.

“So far, the banking issues are more idiosyncratic than systemic, and a system breakdown has become far less likely in the wake of the extraordinary deposit support announced by the Fed in the wake of the Silicon Valley Bank collapse,” said Padhraic Garvey, regional head of research, Americas at ING.

How Powell navigates all this in his 6.30pm GMT news conference could determine whether markets succumb to fresh selling or stabilise further.

 

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:

 /  🏆 12. 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.

MARKET WRAP: JSE has best day in four months as global efforts help ease banking turmoilGlobal markets cheered the latest efforts by governments in the US and Europe to ease a crisis threatening the global banking sector
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET INQUIRY: Competition Commission puts global digital media platforms under content use scrutinyThe commission has announced the terms of reference for a market inquiry into the distribution of content on digital platforms. This could mean Facebook, Google and other tech giants may have to pay for the privilege of running content on their sites.
Source: dailymaverick - 🏆 3. / 84 Read more »