US stocks rally as Powell hints at slower rate hikes

Wednesday, 30. November 2022 19:40

Markets in the United States turned positive on Wednesday after Federal Reserve Chair Jerome Powell said the central bank could slow the pace of its rate hikes from December.

The Dow Jones rose 0.30% or 100 points at 1:38 pm ET as Microsoft rallied 1.79%.

The Nasdaq 100 jumped 1.56% at 1:39 pm ET. The best performer was Workday, whose shares soared 13.36%.

The S&P 500 was up 0.75% at 1:39 pm ET. Estee Lauder, up more than 5%, led the gains.

The euro added 0.44% against the dollar to sell for 1.03718 at 1:38 pm ET.

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