US Stock Market: Shares open higher as some calm returns to Wall Street
A day earlier, stocks tumbled after the Federal Reserve indicated that while the end may be near for its economy-crunching interest rate hikes, it doesnt expect to cut rates this year.
Stocks are opening higher as some stability returns to Wall Street following a couple days and weeks of sharp swings. The S and P 500 was up 0.9 per cent early on Thursday.
The Dow and the Nasdaq also rose. Treasury yields were mixed. A day earlier, stocks tumbled after the Federal Reserve indicated that while the end may be near for its economy-crunching interest rate hikes, it doesn't expect to cut rates this year.
Many investors still think the Fed will, however. The high rates, which are meant to fight inflation, also put pressure on banks and risk tipping the economy into a recession.
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