Wall Street posts big gains to end strong week
STORY: U.S. stocks rallied Friday, rebounding off the bear market lows to notch the first weekly gain of the month, as investors tempered expectations for the Federal Reserve's plan to hike interest rates.
This after a University of Michigan survey showed that while U.S. consumer sentiment fell to a record low in June, Americans saw a marginal improvement in the outlook for inflation.
Rod von Lipsey is a managing director at UBS Private Wealth Management.
“We're seeing a little bit of a relief today, and that's because perhaps investors are believing that the market has been overly pessimistic. With last week's hawkish Fed, there's probably a higher likelihood that we could maneuver ourselves to a soft landing. And so the traders are coming back and saying maybe things are overly overly pessimistic. And so we're seeing a little bit of support in the markets this afternoon.”
The Dow climbed more than 800 points to end almost 2.7% higher. The S&P 500 rose 3%, snapping a three-week losing streak, while the Nasdaq soared three and a third percent higher.
Bank stocks rallied after the Fed's annual "stress test" exercise showed that the country's big banks have enough capital to weather a severe economic downturn.
Shares of FedEx jumped after issuing a stronger-than-expected full-year profit forecast.
And tech stocks, which have been battered so far this year, staged a comeback with Meta Platforms, Alphabet and Netflix posting gains of more than 5%.
相關影片推薦
- 1:52餘震太多! 東大門夜市沒遊客 攤商躺平休息TVBS新聞網影音39,870 次觀看・11 小時前
- 2:06麻辣鍋名店驚傳熄燈! 5/5結束營業老饕不捨華視影音65,619 次觀看・13 小時前
- 1:49西班牙加護病房出動「治療犬」病患暖心感動落淚Yahoo奇摩(國際通)14,534 次觀看・18 小時前
- 1:48嫌擋路! 惡男拉婦下公車 狠摔路邊再踹一腳華視影音14,898 次觀看・8 小時前
- 10:06唐綺陽本週星座運勢解析:04/29 - 05/05 2024Voyage TV3,632 次觀看・12 小時前
- 1:37抓到了!「無頭貨櫃」國道奪命 落跑運將落網|#鏡新聞鏡新聞37,969 次觀看・13 小時前
- 1:14李晨爆官宣Angelababy「10年友情轉愛情」 范冰冰突曬「定情物」網驚:復合了嗎娛樂星聞5,822 次觀看・8 小時前
- 1:27Gigi到泰國突然暈眩臉色超差硬撐 看完醫生老公史丹利竟然很擔心這件事?!娛樂星聞6,351 次觀看・1 天前
- 1:10金秀賢和金智媛花絮被發現手也牽緊緊 根本是戀愛的程度網友激動:直接公開吧!娛樂星聞9,268 次觀看・1 天前
- 1:56新北議會衝突!陳明義兒2022選同區 早與蔣根煌結樑子民視影音103,779 次觀看・3 天前