Global equity indices rallied while Wall Street stocks cut gains during late trading sessions as the dollar depreciated.
It is understood that investor sentiment recovered slightly after expectations of an interest rate hike of 100 basis points reduced to 29% from 80%.
The point was backed up by Jim Barnes of the Byrn Mawr Trust by stating the Federal Reserve (Fed) is entering a quiet period that allows for a 75 basis point increase against 100 basis points.
He added that the encouraging economic data boosted investor appetite and revitalized the equity market even though treasury yields remained robust.
The Refinitiv report said 40 companies in the S&P 500 posted gains above expectations, further strengthening investor confidence.
Looking at the board, the Dow Jones Industrial index fell 0.69% at 31,071.75 while the S&P 500 lost 0.84% at 3,830.82 and the Nasdaq Composite was down 0.81% at 11,360.05.
On the other hand, the MSCI gauge of worldwide stocks hit 0.06% with the STOXX 600 up 0.93% after closing at a 3 -week high on concerns over the impact of energy shortages in Europe.
Currency flows saw the dollar index retreat from a 20 -year high when it fell 0.38% with the Euro up 0.56% at $ 1.0143.
The benchmark 10 -year treasury note fell 12/31 in price at a yield of 2.9725% from 2.93% during late Friday.
As for commodities, oil prices soared on concerns over Russian gas supplies and a weaker dollar offsetting demand concerns caused by the recession as well as closures in China.
U.S. crude oil rose 5.13% at $ 102.60 and Brent oil added 5.05% at $ 106.27.
