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US stocks rallied sharply on Wednesday, witnessing fresh buying and extending the daily rally as Jerome Powell signalled a slowdown in the pace of tightening as early as December while indicating more hikes to fight inflation. The dovish comments from Federal Reserve (Fed) Chairman Jerome Powell provided strong support to the equity markets, as heContinue Reading

US stocks edged lower on Tuesday, regaining upside traction and paring most of their daily losses with traders unwilling to make big bets ahead of Jerome Powell’s speech Wednesday. Jerome Powell is expected to cement expectations the Fed will slow its pace of hikes next month and remind investors that its fight against inflation willContinue Reading

US stocks declined sharply on Monday, witnessing heavy selling and were dragged down by safe-haven demand as investors were concerned about a global slowing economy and the spread of coronavirus in China. Investors’ sentiment soured as Federal Reserve officials stressed that more rate hikes are coming, as New York Fed President John Williams on MondayContinue Reading

The US Department of Labor reported that non-farm payrolls rose by 261,000 last month, more than economists had forecasted. The increase in hiring was driven by more people entering the labour force. Meanwhile, private payrolls rose by 239,000 in October according to a report from ADP, with the leisure and hospitality industry seeing the mostContinue Reading

US stocks were little changed on Friday, having a shortened trading session following the US Thanksgiving holiday amid the prospect of the Federal Reserve moderating the pace of its policy tightening. Investors’ sentiment was boosted this week after the Federal Reserve’s Nov. 1-2 meeting minutes showed most officials backing slowing the pace of interest-rate hikes.Continue Reading