{"id":127294,"date":"2019-07-12T16:00:46","date_gmt":"2019-07-12T16:00:46","guid":{"rendered":"https:\/\/www.bnreport.com\/world-markets-rally-amid-growing-hopes-of-fed-interest-rate-cut\/"},"modified":"2019-07-12T16:00:46","modified_gmt":"2019-07-12T16:00:46","slug":"world-markets-rally-amid-growing-hopes-of-fed-interest-rate-cut","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/world-markets-rally-amid-growing-hopes-of-fed-interest-rate-cut\/","title":{"rendered":"World markets rally amid growing hopes of Fed interest rate cut"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.cityam.com\/assets\/uploads\/main-image\/cam_standard_article_main_image\/the-trading-chart-hanging-over-the-sp-pit-of-the-51566951-5696ad9e5be59.jpg\"\/><\/p>\n<p>FTSE and other European markets enjoyed a bump this morning as expectations of an interest rate cut in the US mounted.<\/p>\n<p>Caution expressed yesterday by the chairman of the US Federal Reserve, Jay Powell, has been interpreted as a likely nod that rate cuts would happen at the end of this month.<\/p>\n<p><strong>Read more:<\/strong> <a href=\"https:\/\/www.cityam.com\/fed-chair-jay-powell-hints-at-rate-cuts-with-gloomy-statement\/\" rel=\"noreferrer noopener\" target=\"_blank\">Powell hints at rate cut with gloomy statement<\/a><\/p>\n<p>In late-morning trading, the FTSE 100 was trading up 0.03 per cent at a price of roughly 7,532, while the Cac rose 0.15 per cent to 5,575 and the Dax was flat at 12,371.<\/p>\n<p>In the US, the S&amp;P 500 climbed 0.45 per cent to 2,993, the Dow rose 0.29 per cent to 26,860 and the NASDAQ Composite was 0.75 per cent higher at 8,202.<\/p>\n<p>Powell yesterday boosted the markets expectations that the first interest rate cut in ten years will come this month with a gloomy testimony to a congressional committee.<\/p>\n<p>In<br \/>a prepared statement Powell said \u201ctrade tensions and concerns about<br \/>global growth have been weighing on economic activity and the<br \/>outlook\u201d in the US.<\/p>\n<p>Domestically, business investment has slowed notably while manufacturing output continued to decline, Powell said.<\/p>\n<p>He added that there was \u201ca risk that weak inflation will be even more persistent\u201d than previously thought.<\/p>\n<p><strong>Read more:<\/strong> <a href=\"https:\/\/www.cityam.com\/uk-economic-growth-beats-economists-expectations\/\" rel=\"noreferrer noopener\" target=\"_blank\">UK economic growth beats expectations<\/a><\/p>\n<p>David Madden, market analyst at CMC Markets UK, said: \u201cStock markets in Europe are higher this morning as traders feel the Federal Reserve will lower rates in the wake of the update from Fed chief, Jerome Powell yesterday.<\/p>\n<p>\u201cThe central banker said the Fed would act as appropriate to help the US economy, and he cautioned that crosscurrent have weighed in the countrys outlook.<\/p>\n<p>\u201cPowell highlighted that the unemployment rate is near a 50 year low, but he did leave the door open to <a href=\"https:\/\/www.cityam.com\/stocks-rally-amid-growing-expectations-of-fed-interest-rate-cut\/\" rel=\"noreferrer noopener\" target=\"_blank\"><strong>Read More<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTSE and other European markets enjoyed a bump this morning ..<\/p>\n","protected":false},"author":1,"featured_media":127299,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-127294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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