US stocks ticked higher on Wednesday after a rally spurred by hopes for lower US interest rates wrapped around the world. The Dow rose 463.66 points, or 1%, to 44,922.27.
US stocks ticked higher on Wednesday after a rally spurred by hopes for lower US interest rates wrapped around the world.
Market expectations reached a virtual consensus that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in September, the AP reports. Stock indexes in Asia jumped in their first trading after Tuesday’s better-than-expected report on US inflation triggered a jump in bets that a cut to interest rates is coming. Hong Kong’s Hang Seng leaped 2.6%, Japan’s Nikkei 225 rallied 1.3%, and South Korea’s Kospi climbed 1.1%. Indexes also rose in Europe, though the moves were more modest after trading took place after the report was released the day before.
