Stocks rose on Wall Street on Thursday, taking back most of their losses from a day earlier, and are on track to notch weekly gains. The S&P 500 rose 1.1 per cent. The Dow Jones rose 182 points, or 0.4 per cent. The Nasdaq composite jumped 1.7 per cent. Every major index is on track for weekly gains. US markets will be closed Friday for the Juneteenth holiday. The Australian sharemarket is set to fall, with futures at 6.05am AEST pointing to a loss of
51 points, or 0.6 per cent, at the open. The ASX lost 0.6 per cent on Thursday. The Australian dollar was trading at US70.10¢. Wall Street’s gains are helping to cut losses from a day earlier that were driven by anticipation that the Federal Reserve will likely raise interest rates this year in an effort to fight inflation. Bond yields are pulling back. That, along with falling oil prices, is relieving much of the pressure on stocks.
ASX, Wall Street, S&P 500, Dow Jones, Nasdaq, Juneteenth holiday, Federal Reserve, bond yields, oil prices, Australian dollar, Intel, Apple deal
So are they saying stocks are back or just a tiny bounce?
Juneteenth holiday but Wall Street still moving? Confusing. Hope people aren’t getting screwed again while everyone’s “closed.”
The Fed raising rates ‘this year’ is wild though. Like, if bonds are pulling back and oil is down, why would they even raise? Feels like they’ll just do it anyway, and then say it’s ‘inflation’ not greed.
Intel, Apple deal?? I saw that part and figured this is all because of some merger rumor. Also the Australian dollar at US70.10 cents sounds fake like that’s not even how money works, lol. Either way, if yields are easing then watch them pump it till Friday and then drop it.