traders happy celebrate fist pound

Stocks climbed on Thursday after Federal Reserve Chair Jerome Powell signaled the central bank would lower interest rates this month.
“A July rate cut seems set in stone as Powell cites geopolitical uncertainties and global growth slowdown as the reasons why an easier policy will help sustain the expansion domestically,” said Konstantinos Anthis, head of research at ADSS.
Oil prices rose after three Iranian vessels tried to impede a British oil tanker in the Strait of Hormuz, fanning fears of regional tensions leading to supply disruptions.
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Stocks climbed on Thursday after Federal Reserve Chair Jerome Powell signaled the central bank would lower interest rates this month, reassuring investors who had feared robust US employment data would take a cut off the table.

“A July rate cut seems set in stone as Powell cites geopolitical uncertainties and global growth slowdown as the reasons why an easier policy will help sustain the expansion domestically,” said Konstantinos Anthis, head of research at ADSS.

Minutes from the Fed’s June meeting were released during Powell’s testimony in front of Congress, indicating market expectations also factored into the central bank’s decision.

“While overall financial conditions remained supportive of growth, those conditions appeared …read more


Source:: Businessinsider – Finance

      

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