, the S&P 500 has recovered 21% from its October 2022 lows, heralding the start of a new bull market, as defined by some market participants.
The S&P 500 climbed 0.93% to end the session at 4,338.93 points. The Nasdaq gained 1.53% while Dow Jones Industrial AverageWhile the Fed is expected to keep rates steady, surprise rate hikes by the Reserve Bank of Australia and the Bank of Canada last week have still kept investors alert to the idea of prolonged tightening cycles.
The European Central Bank will deliver its rate decision on Thursday with analysts expecting it to raise rates by 25 basis points and to signal that there is more ground to cover. But the Bank of Japan, which will announce its plan on Friday, is expected to maintain its ultra-loose policy.In U.S. Treasuries, the yield on benchmark 10-year Treasury notes reached 3.7375% compared with the U.S. close of 3.765% on Monday.
In currencies, the U.S. dollar index , which measures the greenback against a basket of major currencies, rose 0.019% to 103.600, while the European single currency was up 0.1% on the day at $1.0762.U.S. crude ticked up 0.15% to $67.22 a barrel. Brent crude rose to $72.01 per barrel.Reporting by Julie Zhu; Editing by Christopher Cushing
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