Investor inflation jitters calmed down by Powell’s latest comments
Wall Street closed higher as Federal Reserve Chairman Jerome Powell continued to downplay fears over the quick pace of inflation. USA30 gained 0.20%, and USA500 rose 0.51%. TECH100 closed 0.79% higher at a new record high of 14,223.27.
Crude oil fell 0.35%, trading at $72.62 a barrel.
Gold was down 0.33% to $1,777.05 per troy ounce.
The Dollar Index was up 0.09% at 91.963.
Asia and Australia
Stocks were mainly up following the rebound in US counterparts. The possibility that policy tightening could be more gradual than expected put away investor fears regarding an inflation spike.
Japan225 soared 3.03%.
Down under, Australia200 jumped 1.41%.
HongKong45 inched up 0.01%.
Brent oil fell 0.35% to trade at $74.64 per barrel.
EUR/USD was down 0.05% to 1.1908.
Sources: investing.com, reuters.com.
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