Home » Stocks push higher with Nasdaq 100 rallying 2%
U.S. stocks extended gains as investors weighed the resilience of the economy against prospects for aggressive policy action to curb inflation. Treasury yields climbed while oil fell.
The S&P 500 bounced back from the lowest close in more than a month, with all the 11 main industry groups advancing except energy. The tech-heavy Nasdaq 100 climbed as much as 2 per cent. The 10-year Treasury yield hit a fresh three-year peak, while German and U.K. 10-year yields climbed to the highest since 2015. The dollar strengthened.
Investors — already betting on an almost half-point Federal Reserve rate increase next month — are reassessing tightening expectations after St. Louis Fed President James Bullard said that hikes of as much as 75 basis points shouldn’t be ruled out. The last increase of such magnitude was in 1994.
“Generally, most markets are focused on how fast the Fed and other central banks are going to go, and ultimately what rates are going to take a breather at,”…
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