U.S. stocks rallied after the Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy.
The S&P 500 rose 1.1% Wednesday. The Dow gained 221 points, and the Nasdaq composite jumped 1.6%. Treasury yields also eased in the bond market after the Fed announced its decision to hold interest rates steady, as expected.
The Fed hinted that a swift rise since the summer in Treasury yields, and the resulting tumble in stock prices, may be slowing inflation on their own and acting like rate-hike substitutes.Stock market today: Asian shares track Wall Street gains ahead of Fed decision on interest ratesThe Nasdaq composite rose 210.23 points, or 1.6%, to 13,061.47.The Nasdaq is up 418.46 points, or 3.3%.The Nasdaq is up 2,594.99 points, or 24. headtopics.com
The Morning Bell: Wednesday, November 1, 2023Your daily briefing on what’s going on with Mississippi State sports, and how to keep up with the Bulldogs. Read more ⮕