Latest news with #JeromePowells
Business Standard
25-06-2025
- Business
- Business Standard
Wall Street Rallies as Ceasefire Boosts Sentiment; Tech and Airlines Lead Market Surge
Investor optimism rises amid easing geopolitical tensions and strong sectoral gains, despite weak consumer confidence data. The Nasdaq surged 281.56 points (1.4%) to 19,912.53, the Dow jumped 507.24 points (1.2%) to 43,089.02 and the S&P 500 shot up 67.01 points (1.1%) to 6,092.18. Wall Street extended its gains following President Trump's announcement of a ceasefire between Israel and Iran, easing investor concerns over geopolitical tensions. Despite accusations of violations from both sides, market sentiment remained optimistic. Traders also brushed off Fed Chair Jerome Powells remarks about holding interest rates steady, despite pressure from Trump. The Conference Board released a report showing an unexpected deterioration by consumer confidence in the month of June. Its consumer confidence index fell to 93.0 in June from a revised 98.4 in May. Semiconductor stocks turned in some of the market's best performances, , with the Philadelphia Semiconductor Index soaring by 3.8%. Airline stocks are substantially strong, as reflected by the 3.6% surge by the NYSE Arca Airline Index. Computer hardware, networking and biotechnology stocks too were strong while gold and oil producer stocks bucked the uptrend. Asia-Pacific stocks moved sharply higher. Japan's Nikkei 225 Index shot up by 1.1%, while Hong Kong's Hang Seng Index surged by 2.1%. Most European stocks moved upwards. Germany's DAX Index jumped by 1.6% and France's CAC 40 Index advanced by 1.0%, although the U.K.'s FTSE 100 Index closed only slightly above the unchanged line. In the bond market, treasuries moved higher over the course of the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.7 bps at 4.29%.
Business Standard
23-06-2025
- Business
- Business Standard
Dollar index lifted by safe haven demand as US strike on Iran infuses tension
The dollar index is gaining ground on Monday morning in Asia amid safe haven demand following US airstrikes on three Iranian nuclear facilities over the weekend. The US reportedly attacked three key Iranian nuclear facilities over the weekend, marking Americas official entry into the renewed Israel-Iran conflict. Investors were now watching for how Tehran will respond to the attack. The upside in dollar also stands supported by Fed decision to leave interest rates unchanged last week. The dollar index that measures the greenback against a basket of currencies is up 0.37% at 98.65. Focus this week will be on the US personal consumption expenditures price index, the Federal Reserves preferred inflation gauge, S&P flash US PMIs in addition to US Fed Chair Jerome Powells testimony. Among basket currencies, EURUSD and GBPUSD are trading lower by around 0.34% at $1.1556 and $1.3421 respectively.
