Stocks Rise as Oil and Yields Fall, Market Attempts Rebound After Fed-Driven Sell-Off
U.S. equities moved higher following a decline in oil prices and bond yields, a day after a Federal Reserve rate hike triggered a market slide, according to CNBC.
U.S. stocks rose as oil prices and bond yields fell, with the market attempting to recover from a sell-off tied to the Federal Reserve's latest interest rate decision, CNBC reported.
According to CNBC, the Federal Reserve raised its overnight funds rate by a quarter percentage point in a move that had been widely anticipated by markets. The central bank also signaled that another rate increase could come later this year, the report said.
The rate decision had contributed to a decline in stocks in the prior session, CNBC reported. The subsequent rebound came as both oil prices and bond yields eased, factors that CNBC cited as supportive of the market's attempted comeback.
CNBC's report did not provide additional detail on the magnitude of the moves in individual indexes, oil prices, or yields, nor further specifics on the Fed's broader policy outlook beyond the signal of a possible additional hike this year.
Sources
- Stocks rise, lifted by falling oil and yields as market attempts comeback after Fed sell-off: Live updates — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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