Wall Street is piling more gains onto its rally from the day before on hopes the Federal Reserve is done with its market-crunching hikes to interest rates.
Wall Street is piling more gains onto its rally from the day before on hopes the Federal Reserve may finally be done with its market-crunching hikes to interest rates. The Standard & Poor's 500 was 1.3% higher in early Thursday trading and on track for a fourth straight winning day. The Dow Jones industrial average rose 282 points, or 0.8%, as of 9:40 a.m. Eastern, and the Nasdaq composite ticked 1.5% higher.
” If the 10-year yield ends up quickly dropping back to where it was in the summer, that could make the Federal Reserve more nervous. Still, the mood in financial markets around the world was ebullient. Stock indexes jumped 1.8% in South Korea, 1.1% in Japan, 1.6% in Germany and 1.9% in France. Some reports on the U.S. economy also showed a bit of momentum that could help ease the pressure on high inflation.
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Federal Reserve keeps interest rates unchanged for nowMarley Jay is a business news reporter for NBC News Digital.
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