Stock Markets Advance After Flirting With Bear-Market Territory
Stock Markets Advance After Flirting With Bear-Market Territory
Stock Markets Advance , After Flirting With , Bear-Market Territory.
Al Jazeera reports that stocks managed to make a minor comeback following a chaotic week in financial markets.
Al Jazeera reports that stocks managed to make a minor comeback following a chaotic week in financial markets.
On the morning of May 13, the S&P 500 rose 1.3%, while the Nasdaq 100 rose 1.8%.
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On the morning of May 13, the S&P 500 rose 1.3%, while the Nasdaq 100 rose 1.8%.
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Other gains included the Stoxx Europe 600 by 1.5%, the Dow Jones Industrial Average by 0.8% and the MSCI World index by 1.2%.
Other gains included the Stoxx Europe 600 by 1.5%, the Dow Jones Industrial Average by 0.8% and the MSCI World index by 1.2%.
However, at the same time, the euro, British pound and Japanese yen all fell.
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In commodities, West Texas Intermediate crude gained 2.8% to reach $109.10 a barrel, while gold futures fell 1.3% to $1,801.20 an ounce.
In commodities, West Texas Intermediate crude gained 2.8% to reach $109.10 a barrel, while gold futures fell 1.3% to $1,801.20 an ounce.
Tech giants like Apple, Microsoft and Amazon all saw gains, while Twitter fell on news that Elon Musk's takeover was "temporarily on hold.".
Tech giants like Apple, Microsoft and Amazon all saw gains, while Twitter fell on news that Elon Musk's takeover was "temporarily on hold.".
Overall, the S&P has still seen six straight weeks of decline, the longest losing streak since 2011.
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U.S. Federal Reserve Chair Jerome Powell said that interest rates are likely to rise by half a percentage point at each of its next two meetings.
U.S. Federal Reserve Chair Jerome Powell said that interest rates are likely to rise by half a percentage point at each of its next two meetings.
In a May 12 interview with Marketplace public radio, Powell emphasized the Fed's intention to fight inflation.
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In a May 12 interview with Marketplace public radio, Powell emphasized the Fed's intention to fight inflation.
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However, he also admitted that the central bank's ability to do that without triggering a recession depends upon factors outside of their control.
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However, he also admitted that the central bank's ability to do that without triggering a recession depends upon factors outside of their control.