KONTAN.CO.ID - NEW YORK. Wall Street stocks rebounded from early session losses on Thursday as investors weighed economic implications of the Federal Reserve's surprisingly aggressive interest rate stance, while oil prices surged on supply shortage concerns arising from the Russia-Ukraine conflict. The Fed announced a quarter of a percentage point increase to near-zero interest rates on Wednesday, its first hike in nearly three years as it sought to combat soaring prices. The U.S. central bank also projected six more similarly sized rate hikes this year, sparking worries among traders about the effect on economic growth. U.S. Treasury yields held just below three-year highs on Thursday and the closely-watched yield curve steepened, after earlier sitting at its flattest level in more than two years.
Global Market: Wall Street Stocks, Oil Prices Rise After Aggressive Fed Hike Outlook
KONTAN.CO.ID - NEW YORK. Wall Street stocks rebounded from early session losses on Thursday as investors weighed economic implications of the Federal Reserve's surprisingly aggressive interest rate stance, while oil prices surged on supply shortage concerns arising from the Russia-Ukraine conflict. The Fed announced a quarter of a percentage point increase to near-zero interest rates on Wednesday, its first hike in nearly three years as it sought to combat soaring prices. The U.S. central bank also projected six more similarly sized rate hikes this year, sparking worries among traders about the effect on economic growth. U.S. Treasury yields held just below three-year highs on Thursday and the closely-watched yield curve steepened, after earlier sitting at its flattest level in more than two years.