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Powell Testimony

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Wall Street Rallies as Markets Hit New Highs Amid Oil Drop and Geopolitical Calm
business6 months ago

Wall Street Rallies as Markets Hit New Highs Amid Oil Drop and Geopolitical Calm

The stock market reached near-record highs as oil prices plummeted following a cease-fire between Iran and Israel, boosting risk appetite. The S&P 500, Dow, and Nasdaq all rose, with tech stocks leading gains. Oil futures hit their lowest since June, and investors are optimistic about a potential rate cut by the Federal Reserve, with Powell's testimony indicating a cautious outlook on interest rates amid inflation concerns.

via Barron's|
#business#iran-israel-cease-fire#oil-prices
Market Uncertainty Persists Amid China Stimulus and Fed Testimony
finance2 years ago

Market Uncertainty Persists Amid China Stimulus and Fed Testimony

Asian stocks paused their rally as investors await China's rate decision and Powell's testimonies for clues on the path ahead. Japan's Nikkei slipped 0.4%, while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%. China's blue chips slipped 0.5% while Hong Kong's Hang Seng index eased 0.6%. The People's Bank of China is widely expected to cut its benchmark loan prime interest rates on Tuesday, following a similar reduction in medium-term policy loans last week. The Bank of England also meets on Thursday when it is set to raise interest rates by a quarter point to a 15-year high of 4.75%. Oil prices tumbled more than 1% on Monday.

via Reuters|
#asian-stocks#boe-rate-hike#china-stimulus