Wall St opens higher as easing oil prices boost Fed hike relief
Wall Street indexes opened higher and recorded their best day in six weeks after a Federal Reserve rate hike initially triggered a market sell-off. The Dow gained 250 points as falling oil prices and easing long-end Treasury yields boosted investor confidence. While US stocks recovered nearly all weekly losses, Asian markets showed mixed results or declines following the Fed decision and a jump in the US dollar. S&P 500 and Nasdaq 100 futures suggest a pause in momentum for Friday opening.
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- ✓ The Dow gained 250 points as oil prices and yields fell after a Fed hike.
- ✓ US stocks experienced their best day in six weeks.
- ✓ The Federal Reserve implemented a rate hike that initially caused a market sell-off.
What changed
US stocks jumped to a six-week high following a recovery from a Fed-induced sell-off.
Live updates
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US Stocks Rally as Oil Prices and Treasury Yields Decline
Wall Street indexes opened higher and recorded their best day in six weeks after a Federal Reserve rate hike initially triggered a market sell-off. The Dow gained 250 points as falling oil prices and easing long-end Treasury yields boosted investor confidence. While US stocks recovered nearly all weekly losses, Asian markets showed mixed results or declines following the Fed decision and a jump in the US dollar. S&P 500 and Nasdaq 100 futures suggest a pause in momentum for Friday opening.
Why it matters
The Federal Reserve's decision to raise interest rates typically pressures equity markets by increasing borrowing costs. A simultaneous drop in energy costs and bond yields provided a counterbalance that relieved investor pressure. This volatility reflects the market's ongoing attempt to price in inflation and monetary policy shifts.
What is confirmed
- The Dow gained 250 points as oil prices and yields fell after a Fed hike.
- US stocks experienced their best day in six weeks.
- Oil prices fell to $100.
- The Federal Reserve implemented a rate hike that initially caused a market sell-off.
- Long-end Treasury yields eased.
- Asian stocks reacted with mixed results or declines following the Fed's rate hike.
Still unconfirmed
- Jefferies downgraded Fluence Energy to Hold from Buy and adjusted the price target to $7 from $19.
What to watch next
- Friday opening performance of S&P 500 and Nasdaq 100 futures
- Further movement in oil prices relative to the $100 mark
- Upcoming Federal Reserve communications on rate trajectory
confidence 95%Sources used for this update (16)
- baynews9.com — St. Pete residents could see utility rate hike
- Bloomberg.com — Asian Stocks to Fall as Fed Hikes, Dollar Jumps: Markets Wrap
- CNBC — Stock futures rise after Fed's rate hike spurs a market sell-off: Live updates
- AP News — Asian stocks are mixed after Wall Street slips following Fed’s rate hike decision
- MarketWatch — Stock Market Today: Dow, S&P 500 and Nasdaq set for a climb after selloff driven by Fed rate hike; long-end Treasury yields ease
- WSJ — Stock Market Today: Dow Futures Climb, What to Watch — Live Updates
- Investor's Business Daily — Stock Market Today: Dow Rises In Fed Aftermath; Generac, Nebius, Bloom, SpaceX Are Early Movers (Live Coverage)
- Reuters — Wall St opens higher as easing oil prices boost Fed hike relief
- NBC News — Stocks and bonds rally after Fed hikes rates and oil prices fall
- Pittsburgh Post-Gazette — U.S. stocks jump after oil prices fall and pressure from the bond market eases
- qz.com — Dow gains 250 points as oil prices and yields fall after Fed hike
- Yahoo Finance — 10-year Treasury yield eases, oil falls to $100: AlphaCheck
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