scorecardresearchGlobal Market Wrap: Here's why American and Asian stocks rallied while you were asleep

Global Market Wrap: Here's why American and Asian stocks rallied while you were asleep

Updated: 14 Oct 2022, 08:11 AM IST
TL;DR.
An index of the region’s equities was poised to snap a five-day losing streak, while benchmarks jumped in Hong Kong, Japan and Australia. The S&P 500 defied expectations to rally 2.6% after consumer price data cemented bets for the Federal Reserve to deliver another jumbo rate hike in November.
NEW YORK, NEW YORK - OCTOBER 13: Traders work on the floor of the New York Stock Exchange during afternoon trading on October 13, 2022 in New York City. U.S. stocks rose dramatically after falling to their lowest levels since 2020, recovering from a 500-point drop earlier in the day.   Michael M. Santiago/Getty Images/AFP

NEW YORK, NEW YORK - OCTOBER 13: Traders work on the floor of the New York Stock Exchange during afternoon trading on October 13, 2022 in New York City. U.S. stocks rose dramatically after falling to their lowest levels since 2020, recovering from a 500-point drop earlier in the day. Michael M. Santiago/Getty Images/AFP