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Wall Street ended Friday’s session on a positive note as investors responded to the Fed’s interest rate hike of 0.25% and signals that the Fed is near the end of its monetary tightening cycle. The positive sentiment boost from the Fed was a much-needed relief following a week of turbulence in the global banking sector. The Dow Jones rose 0.41%, the S&P500 added 0.56% and the tech heavy Nasdaq jumped 0.3%.
Over in Europe, it was a different story with markets in the region ending lower on Friday as investor fears of a global banking crisis worsened. Deutsche Bank fell 8.5% on Friday after its credit default swaps, a form of insurance for bond holders, pushed higher. Germany’s DAX fell 1.66%, the French CAC lost 1.74%, and in the UK, the FTSE100 fell 1.26%.
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