The Federal Reserve on Wednesday is expected to announce an increase of up to three-quarters of a percentage point in its benchmark interest rate, triple its usual margin.
Major global stock markets and Wall Street futures advanced Wednesday as traders prepared for a possible sharp interest rate hike by the Federal Reserve to cool surging inflation.
The Fed on Wednesday is expected to announce an increase of up to three-quarters of a percentage point in its benchmark interest rate, triple its usual margin. Investors worry such aggressive action by the Fed and other central banks in Europe and Asia to control inflation that is at multi-decade highs might derail global economic growth.
In early trading, the FTSE 100 in London rose 0.5% to 7,345.81. The DAX in Frankfurt rose 0.3% to 13,136.88 and the CAC 40 in Paris advanced 0.3% to 6,230.48.&P 500 index was up 0.9% and that for the Dow Jones Industrial Average added 0.4%.&P 500 fell 1.2% after Walmart warned inflation that has spiked to a four-decade high of 9.1% hurts American consumer spending.In Asia, the Shanghai Composite Index lost less than 0.1% to 3,275.76 while Tokyo's Nikkei 225 advanced 0.2% to 27,715.
On Wall Street, other major retailers also fell Tuesday following Walmart's profit warning. Target dropped 3.6%, Macy's slid 7.2% and Kohl's fell 9.1%.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global stocks, oil prices higher before likely US interest rate hike to cool surging inflationThe Federal Reserve on Wednesday is expected to announce an increase of up to three-quarters of a percentage point in its benchmark interest rate, triple its usual margin.
Read more »
Asian markets rise ahead of possible U.S. rate hikeAsian stock markets were mostly higher Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve to cool inflation.
Read more »
Asian markets follow Wall Street lower ahead of likely Fed rate hikeAsian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation.
Read more »
Fed poised to hike rates by three-quarters of a percentage point to fight inflationThe increase will be the Fed’s fourth rate hike to help cool down the economy and lower prices, which are surging at 40-year highs.
Read more »
Fed set to impose another big rate hike to fight inflationThis week it’s set to announce another hefty hike in its benchmark interest rate.
Read more »
Opinion | Jerome Powell’s Fed Pursues a Painful and Ineffective Inflation CureFrom WSJopinion: More aggressive interest-rate hikes will cost millions of jobs and won’t address the causes of high prices, writes SenWarren
Read more »