Stock markets in the US appear on track to score fifth straight week of gains as prospects of a more gradual rate rise is keeping sentiment in favor of risk assets.
At the time of writing, Dow Jones Industrial Average (DJIA) was up 106 points or 0.61%. The index ended higher on Thursday for fifth straight day and turned positive for this year. Meanwhile, S&P 500 and Nasdaq were up at least 0.4%.
Bank stocks –JP Morgan and Goldman Sachs were the top performers from DJIA index. Meanwhile, losing side included names like Caterpillar, IBM, Coca-Cola.
Equity markets have surged roughly 12% since their mid-February low largely due oil prices recovery. Gains witnessed since Wednesday are due to Fed’s back tracking from December’s call of four rate hikes in 2016.fxstreet
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