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Wall Street Rallies Amid Oil Retreat and Inflation Expectations
- On Thursday, U.S. stock index futures surged following the Federal Reserve's interest rate hike on Wednesday, removing a source of market anxiety while aiming to control persistent price pressures.
- The Federal Reserve's dot plot chart projects one more hike this year but stopped short of signaling any moves next year, with officials indicating additional increases may be needed in coming months.
- Alphabet and Meta shares rose more than 1% each before the bell, while CoreWeave, Nebius, and IREN gained 6%, 9%, and 5% respectively; Fluence Energy tumbled 18% after lowering revenue forecasts.
- Investor attention now shifts to the Bank of England's interest rate decision, where rates are expected to stay at 3.75 per cent despite markets pricing an 80 per cent chance of a November hike.
- Northlight Asset Management's Chris Zaccarelli noted inflation has exceeded targets for over five years, while JPMorgan Asset Management's Tai Hui warned investors may need to reassess valuations if the Fed remains hawkish into 2027.
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The industrial average Dow Jones advanced 224 points, or 0.4%. The S&P 500 rose by 0.9%, and the Nasdaq Composite was 1.5%, according to CNBC data.
One reason for the better mood is the falling oil prices. After the Fed's interest rate decision, investors can turn to other issues again.
·Düsseldorf, Germany
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Coverage Details
Total News Sources60
Leaning Left3Leaning Right8Center13Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
13%
C 54%
R 33%
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