HomeFinancial MarketsStocks Rally as Markets Expect Central Banks to End Rate Hikes

Stocks Rally as Markets Expect Central Banks to End Rate Hikes

Global stocks rose on Wednesday as cooler-than-expected inflation readings in the US and the UK have convinced investors that the US and UK central banks will bring their rate hikes to an end.

In New York, the S&P 500 advanced a further 0.3% after rallying 1.91% on Tuesday; its biggest daily rise since April. Futures on the Nasdaq 100 gained 0.3% while those on the Dow Jones Industrial Average rose 0.2%. In Europe, the Stoxx 600 index gained 0.6%, led by consumer product and mining stocks.

US prices were shown to drop by more than expected on Tuesday, while on Wednesday morning, UK inflation cooled by more than analysts projected. UK consumer prices rose 4.6% in October compared to last year, down from September’s 6.7% annual rise.

Chemical Giant DuPont Will Split in 3 Companies, Replace CEO Ed Breen

Chemical giant DuPont is heading towards some major changes. The company announced on Wednesday that it will be splitting into three separate companies while...

Zoom Tops Estimates, Raises Full-Year Forecast

Zoom Video Communications reported its earnings for the first quarter of 2024 on Monday and topped the estimates of Wall Street analysts. The communications...

Reddit Stock Jumps on the Back of Open AI Partnership

Social media platform Reddit announced earlier this week that it is partnering up with artificial intelligence start-up Open AI to improve the experience of...