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US Stocks Rebound on Powell's More Aggressive Rate Hikes Statement European Stocks Finished Positive


London, Tuesday, 22 March 2022



US Markets Summary


Following unusually aggressive statements by Fed Chair Powell while observing the situation in Ukraine, all three main US market indices rebounded substantially on Tuesday, as investors evaluated the likelihood for tighter monetary policy.


As investors returned to faster-growing firms, bank shares benefited from the expectation of higher interest rates, and Nike profited from good third-quarter results, technology equities were among the biggest gainers.



European Markets Summary


Major European stock indices ended Tuesday's session on a high note, with the DAX 30 up over 1% and the STOXX 600 up 0.7 percent, with financial firms leading the way.


To contain inflation, Federal Reserve Chair Powell warned the US central bank could hike rates more than the customary 25 basis points in May.


Meanwhile, investors were concerned that a prolongation of the conflict in Ukraine could result in new sanctions against Russia, aimed at its energy sector and putting further pressure on inflation.


On the business side, Nemetschek, a German software company, rose more than 11% after reporting good full-year earnings and a positive outlook.


U.S. Stock Market Indexes as at 4:00 p.m. ET

  • S&P 500: +50.63 (+1.13%) to 4,511.81

  • Nasdaq: +50.63 (+1.13%) to 4,511.81

  • Dow Jones: +254.87 (+0.74%) to 34,807.86


European Stock Market Indexes

  • STOXX Europe 600: +3.86 (0.85%) at 458.65 as on 22 Mar, 18:00 CET

  • FTSE 100 in London: +34.33 (0.46%) at 7,476.72 as on 22 Mar, 16:35 GMT

  • DAX 30 in Germany: - +146.23 (1.02%) at 14,473.20 as on 22 Mar, 17:55 CET

  • CAC 40 in France: +77.08 (1.17%) at 6,659.41 as on 22 Mar, 18:05 CET

  • FTSE MIB 30 in Italy: +239.13 (0.98%) at 24,533.84 as on 22 Mar, 17:35 CET

  • IBEX 35 in Spain: +98.00 (1.17%) at 8,487.20 as on 22 Mar, 17:38 CET


Other markets

  • Ten-year U.S. Treasury note: +5.8 bps to yield 2.3730%

  • Dollar index: -0.08 or -0.08% at 98.42 as on Mar 22, 2022 6:05 p.m. EDT

  • VIX volatility index: −0.59 (2.51%) at 22.94 as on 22 Mar, 15:15 GMT-5


Oil prices

  • Brent crude: -0.90 or -0.78% at $ 114.58 per barrel as on Mar 22, 2022 9:59 p.m. GMT

  • West Texas Intermediate: -0.82 or -0.73% at $ 111.30 as on Mar 22, 2022 2:29 p.m. EDT


Precious metals

  • Gold: -13.98 or -0.72% at $1,921.56 an ounce as on Mar, 22, 2022 at 18:55 NY Time

  • Silver: -0.44 or -1.75% at $24.79 an ounce as on Mar, 22, 2022 at 18:55 NY Time


Cryptocurrencies

  • Bitcoin: +1,508.70 (3.68%) at $ 42,526.40 as on 22 Mar, 22:54 UTC

  • Ethereum: +108.32 (3.75%) at $ 2,999.16 as on 22 Mar, 22:54 UTC


(Written and edited by: The Decision Maker)