ACNS-THE COMPARED WORLD TV NEWS
Monday, February 6, 2023
  • Login
  • The Nations-National
No Result
View All Result
  • The Nations-National
No Result
View All Result
ACNS-THE COMPARED WORLD TV NEWS
No Result
View All Result
Home Business News

World Markets Follow Wall St Higher on Fed Rates Promise | Business News

ACNS TV by ACNS TV
March 18, 2021
in Business News
0
World Markets Follow Wall St Higher on Fed Rates Promise | Business News
0
SHARES
16
VIEWS
Share on FacebookShare on Twitter


By JOE McDONALD, AP Business Writer

BEIJING (AP) — Global stock markets rose Thursday and Wall Street futures were mixed after the U.S. Federal Reserve said its key interest rate would be kept near zero through 2023 even it forecast inflation picking up.

London and Frankfurt advanced in early trading while Shanghai, Tokyo and Hong Kong closed higher. Sydney retreated.

On Wednesday, Wall Street hit a new high after the Fed said this year’s U.S. economic growth should rebound to 6.5% — its strongest since the 1980s — and inflation will climb above 2% for the first time in years.

Investors worry that if inflation picks up, central banks might respond by raising interest rates, which would cool economic growth. But Fed Chairman Jerome Powell’s comments at a news conference appeared to reassure them.

“The market reaction suggests investors are satisfied with the Fed’s explanations for now,” said Tai Hui of JP Morgan Asset Management in a report. He said the Fed “may need to provide more handholding” as inflation rises.

In early trading, the FTSE 100 in London advanced 0.1% to 6,772.41 and the DAX in Frankfurt rose 0.6% to 14,687.68. The CAC 40 in Paris was 0.4% higher at 6,080.36.

On Wall Street, the future for the benchmark S&P 500 index lost 0.3% while that for the Dow Jones Industrial Average was up 0.1%.

On Wednesday, S&P 500 rose 0.3% while the Dow gained 0.6%. The Nasdaq added 0.4%.

In Asia, the Shanghai Composite Index rose 0.5% to 3,463.07 and the Nikkei 225 in Tokyo advanced 1% to 30,216.75. The Hang Seng in Hong Kong added 1.2% to 29,384.84.

The Kospi in Seoul advanced 0.6% to 3,066.01 while Sydney’s S&P-ASX 200 was off 0.7% at 6,745.90.

India’s Sensex lost 0.8% to 49,401.84. New Zealand also declined while Southeast Asian markets advanced.

Investors have been uneasy that inflation might accelerate after governments flooded their economies with extra spending and credit to reverse the deepest global slump since the 1930s.

Central banks traditionally respond to higher pressure for prices to rise by hiking interest rates. But Fed officials have said they would let the U.S. economy “run hot” to make sure a recovery is gaining traction.

Before his comments Wednesday, the yield on the 10-year U.S. Treasury bond, or the difference between its market price and the payout if held to maturity, widened to 1.68%, the highest level since January 2020.

Yields fell and stocks gained after Powell spoke.

Banks, industrial stocks and companies that rely on consumer spending helped lift the market. Those gains outweighed a pullback in health care, utilities and other sectors.

Investors are betting the economic malaise will dissipate as spring arrives and more Americans get vaccinated against the coronavirus. The $1,400 stimulus checks the Biden administration began sending to individuals last weekend are helping. But faster economic activity could also translate into inflation.

Fed policymakers foresee unemployment falling from 6.2% to 4.5% by year’s end and to 3.9% at the end of 2022.

That suggests the central bank will be close to meeting its goals by 2023, when it expects inflation to exceed its 2% target and for unemployment to be at 3.5%. Yet it still doesn’t project a rate hike then.

In energy markets, benchmark U.S. crude lost 58 cents to $64.02 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 20 cents on Wednesday to $64.60. Brent crude, the basis for international prices, retreated 68 cents to $67.32 per barrel in London. It declined 39 cents the previous session to $68.

The dollar rose to 109.17 yen from Wednesday’s 108.86 yen. The euro declined to $1.1953 from $1.1979.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



Source link

RELATED POSTS

Belarus opposition leader holds online vote on regime talks – Business Recorder

Another Norwegian Company Sets Lofty Offshore Wind Goals, Prepares for Oslo Stock Exchange

ShareTweetPin
ACNS TV

ACNS TV

Related Posts

Belarus opposition leader holds online vote on regime talks – Business Recorder

Belarus opposition leader holds online vote on regime talks – Business Recorder

by ACNS TV
March 18, 2021
0

Belarus opposition leader holds online vote on regime talks  Business Recorder Source link

Another Norwegian Company Sets Lofty Offshore Wind Goals, Prepares for Oslo Stock Exchange

Another Norwegian Company Sets Lofty Offshore Wind Goals, Prepares for Oslo Stock Exchange

by ACNS TV
March 18, 2021
0

Integrated Wind Solutions (IWS), a newly established offshore wind service company currently wholly owned by the Awilhelmsen Group, opened...

Dow 33,000, Dovish Fed, AMC, Sundial: 5 Things You Must Know

Dow 33,000, Dovish Fed, AMC, Sundial: 5 Things You Must Know

by ACNS TV
March 18, 2021
0

Here are five things you must know for Thursday, March 18:1. -- Nasdaq Futures Tumble as Treasury Yields ClimbStock...

G7 'will not recognise' Russia's Crimea takeover – Business Recorder

G7 'will not recognise' Russia's Crimea takeover – Business Recorder

by ACNS TV
March 18, 2021
0

G7 'will not recognise' Russia's Crimea takeover  Business Recorder Source link

Armenia PM defies ruling to reinstate military chief – Business Recorder

Armenia PM defies ruling to reinstate military chief – Business Recorder

by ACNS TV
March 18, 2021
0

Armenia PM defies ruling to reinstate military chief  Business Recorder Source link

Next Post
World Business Watch: BMW expects half of its sales to be zero-emission vehicles by 2030, Business & Economy News

World Business Watch: BMW expects half of its sales to be zero-emission vehicles by 2030, Business & Economy News

Global Vein Illumination Technologies Market Report 2021: Patient Comfort & Safety Becomes a Higher Priority for Healthcare Givers – Market to Reach $592.8 Million by 2027 – ResearchAndMarkets.com

Global Vein Illumination Technologies Market Report 2021: Patient Comfort & Safety Becomes a Higher Priority for Healthcare Givers - Market to Reach $592.8 Million by 2027 - ResearchAndMarkets.com

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Pope and protestant leaders denounce anti-gay laws

February 5, 2023

Iran pardons or commutes sentence of ‘large’ number of prisoners, state media reports | CNN

February 5, 2023
  • 52.2M Fans
  • 121 Followers
  • 187k Subscribers
  • 650 Followers
  • 23.7k Followers

MOST VIEWED

  • India and Pakistan Suffer New COVID-19 Surge | World News

    India and Pakistan Suffer New COVID-19 Surge | World News

    0 shares
    Share 0 Tweet 0
  • Another Norwegian Company Sets Lofty Offshore Wind Goals, Prepares for Oslo Stock Exchange

    0 shares
    Share 0 Tweet 0
  • How the Rural-Urban Divide Plays Out on Digital Platforms

    0 shares
    Share 0 Tweet 0
  • Jatheon Technologies Presents Free Workplace Communication Guide

    0 shares
    Share 0 Tweet 0
  • Belarus opposition leader holds online vote on regime talks – Business Recorder

    0 shares
    Share 0 Tweet 0

The latest international news from ACNS TV, featuring top stories from around the world and breaking news, as it happens.

CATEGORY

  • Business News
  • Health
  • Sport
  • Technology
  • Trade,Stock Exchange
  • World Economies
  • World News
  • World Trade

Categories

  • Business News (8)
  • Health (32)
  • Sport (7)
  • Technology (11)
  • Trade,Stock Exchange (7)
  • World Economies (8)
  • World News (685)
  • World Trade (10)
  • Contact
  • Home 1
  • Home 2

© 2021 ACNS TV - Web Developed by Techy Rack.

No Result
View All Result
  • Contact
  • Home 1
  • Home 2

© 2021 ACNS TV - Web Developed by Techy Rack.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?