Investors responded positively to the speech by Fed chair Powell, flagging a scaling back of the size of rate hikes while at the same time expecting rates to lift to higher levels than previously thought. At the close of trade, the Dow Jones index was up by 737 points or 2.2%. The S&P 500 index was up by 3.1%. The Nasdaq index rose by 484 points or 4.4%.
This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814...
Investors responded positively to the speech by Fed chair Powell, flagging a scaling back of the size of rate hikes while at the same time expecting rates to lift to higher levels than previously thought. At the close of trade, the Dow Jones index was up by 737 points or 2.2%. The S&P 500 index was up by 3.1%. The Nasdaq index rose by 484 points or 4.4%.
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