US Stock Market Live: After a strong rally on Tuesday, where benchmark indices on Wall Street recovered everything they lost on Monday, futures are surging as well, indicating a continuation of the upmove. The Dow futures are up 650 points, while futures on the S&P 500 and Nasdaq have surged 100 points and 375 points respectively. Two factors have contributed to this upmove. Watch this space for all the Live updates.
US Stock Market Live: After a strong rally on Tuesday, where benchmark indices on Wall Street recovered everything they lost on Monday, futures are surging as well, indicating a continuation of the upmove. The Dow futures are up 650 points, while futures on the S&P 500 and Nasdaq have surged 100 points and 375 points respectively. Two factors have contributed to this upmove, first being US President Donald Trump backtracking on Jerome Powell, stating that he does not plan on removing the Fed Chief from his job. The other important factor is US treasury secretary Scott Bessent stating in a closed door meeting that he expects a de-escalation of the situation with China as he finds it to be unsustainable. The Dow Jones, in regular trading rallied over 1,000 points on Tuesday, while its peer indices gained over 2% each. Shares of Tesla have surged 5% in afterhours trading, despite missing Wall Street expectations. The US Dollar index has rebounded from the Powell-Trump tensions lows of below 98 and is back near the 100 mark, crude prices are nearing the mark of $68 per barrel, while Gold is seeing profit booking after scaling $3,500 levels on Tuesday. The 10-year yield though, remains at 4.4%. Watch this space for all the Live updates.