Oil and bitcoin are rallying while stocks are mixed as traders weigh the Fed’s more measured take on rate cuts
|06/26/2019||Posted by BusinessMediaguide.Com under General World News||
- Fed Chair Jerome Powell poured cold water on traders’ hopes for a cut to interest rates next month.
- The stance appears “fully priced in the asset prices,” says one analyst.
- Rising tensions between the US and Iran and the ongoing US-China trade war drove oil higher.
- Bitcoin rallied 12%.
- View Markets Insider’s homepage for more stories.
The Federal Reserve’s chairman, Jerome Powell, poured cold water on traders’ hopes for a cut to interest rates next month, a move that analysts say is priced into equities prices as stocks were either flat or slightly down on Wednesday.
Meanwhile, geopolitical tensions pushed oil prices higher. read more >>>