Markets are loving the Fed’s ‘patient’ stance on rates — and with Facebook’s blowout quarter it’s a sea of green for stocks (FACEBOOK)
|01/31/2019||Posted by BusinessMediaguide.Com under General World News||
- The Fed held rates steady and chairman Jerome Powell said the central bank would be patient with hikes. That has sent stock markets higher. The Hang Seng reached a 4-month high.
- The Fed comments, along with Facebook’s fourth-quarter earnings that beat Wall Street expectations, has helped buoy markets. Facebook soared 11% in premarket trading.
- “The very dovish tone from the Fed is clearly supportive to risk,” said an economist at Fidelity International.
The Federal Reserve’s “surprisingly dovish” stance on the US economy, along with positive results from tech giant Facebook, has sparked a global stock market rally.
The Fed held read more >>>