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Tamer-than-expected inflation numbers triggered a broad rally in US equities Wednesday, with the S&P 500 Index and Nasdaq Composite rising to 15-month highs, as investors grew increasingly hopeful the Federal Reserve’s interest rate-hiking campaign could be nearing an end. Financial companies were among the strongest performers yesterday together with energy shares. Optimism about a peak in interest rates had the opposite effect on the US dollar index, which weakened for the fifth straight day and hit its lowest point since April 2022. Meantime, European equities managed to outperform, with the Euro Stoxx 50 Index extending its gains in the afternoon, to close 1.7% higher at 4,360 points.
Summary for 13.07.2023
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