empty
23.06.2022 02:21 PM
US and European stock indices soar

This image is no longer relevant

Bond yields tumbled as comments by US Federal Reserve Chair Jerome Powell and growth data in Europe stoked fear about a global downturn. US stock futures rose slightly following a sharp drop.

The yield on German 10-year bonds slumped as much as 21 basis points, poised for the biggest two-day decline since November 2011, after a report showed economic activity in the euro-area slowed sharply in June.

Contracts on both the US-based S&P 500 and Nasdaq 100 rose after erasing earlier declines.

This image is no longer relevant

The Stoxx50 index remained unchanged following a rally of more than 1%

This image is no longer relevant

Powell accepted that steep rate increases could trigger a US recession. He said the task of engineering a soft economic landing was "very challenging" in testimony to the Senate Wednesday. Policymakers are taking drastic steps to cool inflation at a four-decade high, and the Fed chair repeated his resolve to get consumer price growth back down to the 2% target.

"The reaffirmation of the Fed's commitment to bringing inflation down and that recession is a risk are adding to growth worries, which is the dominant fear again," Esty Dwek, chief investment officer at Flowbank SA, said.

Traders are now debating how far the Fed will stretch its rate cycle in the face of an economic downturn. Money markets indicate diminished odds the central bank will raise rates beyond year-end, and rising odds of a rate cut from May 2023.

What to watch this week:

  • Powell US House testimony, Thursday
  • US initial jobless claims, Thursday
  • PMIs for eurozone, France, Germany, UK, Australia, Thursday
  • ECB economic bulletin, Thursday
  • US University of Michigan consumer sentiment, Friday
  • RBA's Lowe speaks on panel, Friday
Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US market: GDP shrinks, but Wall Street climbs

S&P 500 Overview for May 1 GDP contracts, but US market climbs Key US indices on Friday: Dow +0.4%, NASDAQ -0.1%, S&P 500 +0.2%, S&P 500: 5,560, trading range: 5,150–5,800

Jozef Kovach 12:19 2025-05-01 UTC+2

Stock Market for April 30th: S&P 500 and NASDAQ Continue Clinging to Any Positive News

At the close of the previous regular session, U.S. stock indices finished in positive territory. The S&P 500 rose by 0.58%, and the Nasdaq 100 gained 0.55%. The Dow Jones

Jakub Novak 11:10 2025-04-30 UTC+2

The Stock Market Rally Should Not Be Misleading

The wave pattern on the 24-hour chart of the #SPX looks generally clear. The global five-wave structure doesn't even fit into the terminal window at its smallest scale. In simple

Chin Zhao 11:17 2025-04-29 UTC+2

Stock Market for April 29th: S&P 500 and NASDAQ Still Have Growth Potential

At the close of the previous regular session, U.S. stock indices ended mixed. The S&P 500 rose by 0.06%, while the Nasdaq 100 fell by 0.10%. The Dow Jones Industrial

Jakub Novak 10:59 2025-04-29 UTC+2

Stock Market Update for April 28th: S&P 500 and NASDAQ Pause Their Advance

In the previous regular session, U.S. stock indices closed higher. The S&P 500 gained 0.74%, the Nasdaq 100 rose 1.26%, and the Dow Jones Industrial Average edged up by 0.05%

Jakub Novak 09:06 2025-04-28 UTC+2

Stock Market on April 25th: S&P 500 and NASDAQ Resume Growth

At the close of the last regular session, U.S. stock indices ended higher. The S&P 500 rose by 2.03%, while the Nasdaq 100 gained 2.74%. The Dow Jones Industrial Average

Jakub Novak 11:27 2025-04-25 UTC+2

US Stock Market on April 24: S&P 500 and NASDAQ lose momentum after rally

Following the previous regular session, US stock indices closed higher. The S&P 500 gained 1.67%, the Nasdaq 100 rose by 2.50%, and the Dow Jones Industrial Average increased by 1.07%

Jakub Novak 11:41 2025-04-24 UTC+2

Trump Eases Pressure on China

The wave pattern on the 24-hour chart for #SPX is generally clear. The global five-wave structure doesn't even fit on the terminal screen at the smallest scale. In simple terms

Chin Zhao 10:34 2025-04-24 UTC+2

Stock market review for April 22: S&P 500 and Nasdaq extend losses

The US stock market closed lower in the most recent regular session. The S&P 500 fell by 2.36%, while the Nasdaq 100 lost 2.45%. The Dow Jones Industrial Average dropped

Jakub Novak 11:26 2025-04-22 UTC+2

Stock Market Update for April 21st: S&P 500 and NASDAQ Resume Decline Amid New Rumors

At the close of the previous regular session, U.S. stock indices ended mixed. The S&P 500 gained 0.13%, while the Nasdaq 100 slipped 0.13%. The industrial Dow Jones dropped 1.33%

Jakub Novak 11:57 2025-04-21 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.