Stock rally, rate-cut forecasts face test from Powell testimony and jobs report
A four-month-long U.S. stock market rally, partly fueled by investors’ expectations for interest rate cuts in 2024 by the Federal Reserve, faces a test posed by pair of big events in the week ahead. The first is Federal Reserve Chairman Jerome Powell’s semiannual testimony to Congress on Wednesday and Thursday, followed by Friday’s official jobs
Stock market today: Asia follows Wall Street up on hopes Fed will ease off rate hikes
NEW YORK (AP) — Stocks are rallying Friday after a strong report on the U.S. job market helped ease Wall Street’s worries about a possible recession. The S&P 500 was 1% higher in early trading and on pace for a third straight winning week. The Dow Jones Industrial Average was up 372 points, or 1.1%
World stock markets mixed ahead of US jobs data
BEIJING — Global stock markets and Wall Street futures were mixed Friday ahead of an update on the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation.London, Paris and Frankfurt were lower while Shanghai and Tokyo advanced. Oil prices fell back. Investors were looking ahead to