Stocks Jump Most Since January on Jolt From Powell: Markets Wrap - Bloomberg

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Stocks Jump Most Since January on Jolt From Powell: Markets Wrap  Bloomberg

U.S. stocks climbed the most since January as Federal Reserve Chairman Jerome Powell signaled an openness to rate cuts and Mexican officials said they expect to avoid Trump administration tariffs. Big banks such as Citigroup Inc. and Bank of America Corp. surged as Wells Fargo analyst Mike Mayo said the industry would be set to “party like it’s 1995” if rates are lowered. Treasuries tumbled, pushing yields up from multiyear lows, as Powell stopped short of signaling any kind of imminent move. Carmakers and chip manufacturers rallied as Mexico’s president hopes to reach a deal with the U.S. ...

https://www.bloomberg.com/news/articles/2019-06-03/asia-stocks-look-to-steady-as-bonds-extend-gains-markets-wrap

2019-06-04 17:27:15Z
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