Pat494
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The New Year hangover has finally cleared,” said Justin Urquhart Stewart, who helps oversee about $10 billion at Seven Investment Management LLP in London. “Yesterday’s turnaround broke the negative line of falls and has given a chance to push back against poor sentiment. There should be a positive fillip to the market.”
The S&P 500 (SPX) has gained 2.5 percent over two days, following the worst start to a year since 2008. The benchmark index has recovered more than half its losses after tumbling 4.2 percent over the previous five days as crude oil plunged below $48 a barrel for the first time since 2009.
Equities rallied yesterday on relief that Federal Reserve minutes signaled no change in interest-rate policy and optimism over employment growth. Most central bank officials agreed their new policy guidance means they are unlikely to raise interest rates before late April and a number expressed concern inflation could remain too low.
The minutes also showed some Fed officials are concerned about risks posed by overseas economies. Policy actions by foreign central banks may help, the minutes said.
The S&P 500 (SPX) has gained 2.5 percent over two days, following the worst start to a year since 2008. The benchmark index has recovered more than half its losses after tumbling 4.2 percent over the previous five days as crude oil plunged below $48 a barrel for the first time since 2009.
Equities rallied yesterday on relief that Federal Reserve minutes signaled no change in interest-rate policy and optimism over employment growth. Most central bank officials agreed their new policy guidance means they are unlikely to raise interest rates before late April and a number expressed concern inflation could remain too low.
The minutes also showed some Fed officials are concerned about risks posed by overseas economies. Policy actions by foreign central banks may help, the minutes said.
