Stocks, Treasuries Rally on Optimism Around Fed Inflation Fight
US stocks and Treasuries rallied following falling oil prices and optimism regarding inflation control. This movement occurred after the Federal Reserve raised interest rates and indicated further tightening. Bank of America’s Savita Subramanian raised her year-end target for the S&P 500.
US stocks rallied alongside Treasuries as falling oil prices lent support to optimism that inflation can be kept under control a day after the Federal Reserve raised interest rates and signaled more tightening to come. Savita Subramanian, Head: US Equity & Quantitative Strategy at Bank of America, discusses raising her already low S&P 500 year end target. (Source: Bloomberg)
READ NEXT
More on the wire
AI TLDR
A Texas Air National Guard F-16 crashed in Michigan, leading to a several-hour evacuation of the area. The pilot successfully ejected and is receiving treatment at a hospital. The Texas Military Department confirmed the incident and the pilot's status.
AI TLDR
Waymo plans to launch a robotaxi service in Singapore in 2028. Vehicles will arrive soon for mapping, with autonomous testing starting in 2027. This move follows the Alphabet-owned company's strategy to expand its international operations.
AI TLDR
Florida resident Eduardo Alvarez captured a viral video of a blue land crab brandishing a pocket-knife blade. The crab appeared to move toward Alvarez and his dog during the encounter.