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Global stocks rise after Fed tames inflation fears, projects US GDP surge

Sumary of Global stocks rise after Fed tames inflation fears, projects US GDP surge:

  • E-mini futures for the S&P 500 advanced 0.3%.While inflation is expected to reach 2.4% this year, above the central bank 2% target, Fed Chair Jerome Powell called it a temporary surge that will not change the Fed pledge to keep its benchmark overnight interest rate near zero…
  • Long-term Treasury yields remained elevated in Asian trading as bond investors chose to focus more on rising inflation expectations…
  • The S&P 500 closed at a record high on Wednesday and the Dow Jones Industrial Average closed above 33,000 points for the first time, bolstered by the Fed strong economic forecast and Powell comments that it is too early to discuss tapering-off measures….

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