World markets today: US stocks rise after Jerome Powell’s remarks
US stocks edged higher on Wednesday after Federal Reserve chair Jerome Powell in prepared remarks ahead of his congressional testimony said the central bank expects to cut interest rate later this year.
At the opening bell, the Dow Jones Industrial Average rose 135.96 points, or 0.35 per cent, to 38,721.15. The S&P 500 opened higher by 29.38 points, or 0.58 per cent, at 5,108.03, while the Nasdaq Composite gained 152.41 points, or 0.96 per cent, to 16,092.00.
European stock markets mostly rose on Wednesday.
Britain’s FTSE 100 edged up 0.3 per cent at 7,668.76 points. France’s CAC 40 rose 0.1 per cent at 7,940.17. Germany’s DAX added 0.1 per cent at 17,708.55.
Euro Stoxx 50 gained 0.4 per cent at 4,910.49.
In Asian stock markets, Hong Kong’s Hang Seng Index climbed 1.7 per cent at 16,438.09. China’s Shanghai Composite fell 0.3 per cent at 3,039.93.
Japan’s Nikkei 225 was flat at 40,090.78.
Oil rose after Saudi Arabia unexpectedly increased prices of its main grade to buyers in Asia.
Brent traded above $82 a barrel after dropping almost 2 per cent in the week’s first two sessions.
Gold prices gained on Wednesday to trade near previous session’s record highs.
Spot gold was up 0.3 per cent to $2,132.80 per ounce, as of 1249 GMT after hitting a historic high of $2,141.59 per ounce in the prior session. US gold futures were steady at $2,141.60.
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Published: 06 Mar 2024, 08:14 PM IST
