Concerns over rate hikes eased significantly following remarks from a Federal Reserve official hinting at a potential rate freeze. Consequently, Treasury yields fell and investor sentiment improved, driving a broad-based rally across major indexes led by tech stocks.
Prospects for a rate hike receded following Fed Governor Waller's remarks signaling a rate freeze and a drop in US Treasury yields.
The three major New York stock indexes rose over 1% each as rate-hike caution eased and risk-on sentiment spread.
Major tech stocks gained strength following Snowflake's upwardly revised earnings guidance and news of Nvidia acquiring Hugging Face.
International crude oil prices closed mixed due to oil price volatility amid persistent Middle East tensions.
U.S. Treasury yields fell as a Federal Reserve official hinted at keeping interest rates unchanged in September, rapidly easing market concerns over further monetary tightening. Consequently, investor relief has emerged, strengthening buying sentiment for risk assets.
Fed Governor Waller's remarks hinting at a September rate freeze and a decline in the 10-year U.S. Treasury yield
Tesla holds official launch event for unmanned Robotaxi Cybercab in Austin
Fine M-Tec expected to post strong H2 earnings driven by Apple foldable supply chain momentum
Bitcoin Kimchi premium indicator turns positive, creating a price gap between domestic and overseas markets
