Forex
US Stocks Rebound as Oil Prices Fall and Bond Market Pressure Eases
US stocks recovered most of their losses for the week after oil prices fell and pressure from the bond market eased.
The S&P 500 climbed 1.1% and was potentially heading for its best day in six weeks, while the Dow Jones Industrial Average rose 346 points or 0.7%, with an hour remaining in trading.
Falling oil prices helped pull yields lower in the bond market and removed some pressure on stocks, as Brent crude oil slid 1% to settle at $104.82, down from nearly $110 earlier in the week.
The Federal Reserve hiked its main interest rate for the first time in years and suggested more may be ahead as it tries to get the nation's high inflation under control.