Forex
US Stocks Bounce Back After Fed Rate Hike
US stocks rebounded on Thursday after the Federal Reserve's interest rate hike on Wednesday. The S&P 500 Index rose 1.1% to notch its first daily advance this week, while the Nasdaq 100 climbed 1.7%, marking their best day in more than six weeks.
The latest dot plot showed that 16 of 18 Fed officials had penciled in another rate hike this year, which contributed to Wednesday's selloff. Chairman Kevin Warsh delivered a hawkish speech after the decision, underscoring the central bank's determination to curb inflation.
Treasury yields fell as stocks rallied, and oil prices dropped for a second day in a row, which also helped lift investor sentiment.