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U.S. Stocks Test New Intraday Highs on Hint of Later Rate Hike
by Wallace Witkowski and Mark DeCambre
Market Watch
U.S. stocks moved sharply higher and kept testing new intraday highs Monday, buoyed by remarks from one Federal Reserve official suggesting a September interest-rate hike may not be a done deal as well as a bounce-back in Chinese stocks.
The main U.S. indexes have been weighed by worries about the prospect a slowdown in Asia as well as impending tightening of U.S. monetary policy.
But comments from Federal Reserve Vice Chairman Stanley Fischer on Monday may have helped ease some of those concerns. He told Bloomberg TV he doesn’t expect the first interest-rate hike by the U.S. central bank in more than nine years to occur until after inflation returns closer to the Fed’s target of around 2%. The inflation rate has dipped close to zero in recent months and hasn’t been above 2% since April 2012.
Continue Reading at MarketWatch.com…
Source: http://financialsurvivalnetwork.com/2015/08/u-s-stocks-test-new-intraday-highs-on-hint-of-later-rate-hike/?utm_source=rss&utm_medium=rss&utm_campaign=u-s-stocks-test-new-intraday-highs-on-hint-of-later-rate-hike
