Traders now lay 73% odds on the Fed keeping rates steady on June 14, in a range of 5%-5.25%, pausing its most aggressive hiking cycle since the 1980s.īets for a pause were supported by data on Thursday that showed the number of Americans filing new jobless claims surged to a more than 1 1/2-year high, indicating a loosening labour market that could further quell inflation. The most commonly accepted definition of a bull market is a 20% rise off a low, and a 20% decline from a high for a bear market, but that is open to interpretation. Refinitiv data showed the S&P 500 up 20% from its Oct. "The one thing that could tip over the apple cart is an over-aggressive Fed." "As of today, the S&P 500 is back in a bull market," said Arthur Hogan, chief market strategist at Briley Wealth, noting that the index finished Thursday with a 20% gain off its recent lows. For the week, the index for world stocks might notch a 0.6% rise. Combined with gains on Wall Street, the MSCI's broadest index of world stocks (.MIWD00000PUS) added 0.18% at a 13-month high. Over in Europe, the STOXX 600 (.STOXX) index lost 0.13%, but MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) jumped 0.74% overnight. The Nasdaq Composite (.IXIC) added 0.13%, and the Dow Jones Industrial Average (.DJI) rose 0.16%. It finished higher 0.1%, the best close since Aug. Helped by a surge in Tesla Inc (TSLA.O), which jumped as much as 5.7%, the S&P 500 (.SPX) rose to levels last seen in August before paring gains. ![]() ![]() ![]() shares struck new highs for the year on Friday and helped lift world stocks to a 13-month peak, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S.
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