Forex
US Stock Market Rebounds Over 1% Amid Weakened Rate Hike Expectations
The US stock market rebounded more than 1% in September as the possibility of a Federal Reserve rate hike weakened.
Fed Chairman Kevin Wash hinted at a rate hike in his speech at Jackson Hole, and both bond and stock markets were weak due to inflation concerns stemming from oil prices.
The S&P 500 index rose 1.06% to 7747.71, while the tech-heavy Nasdaq Composite index surged 1.40% to close at 26,584.06.
Large technology stocks such as Google and Meta led the market, rising 1.59% and 3.01%, respectively.