Page 6 - Peter Chatwell News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) -- US stocks rallied into the close as traders wagered the worst of the banking turmoil has passed. Treasuries fell. The S&P 500 recovered much of its lost gains in the late afternoon session after a Russian fighter jet colliding with a US drone tamped down the initial enthusiasm. The tech-heavy Nasdaq notched its biggest one-day gain in six weeks. The relief rally in banking stocks was crimped as the KBW Bank Index ended the day with a 3.2% gain. Remarks from ratings companies on the financial sector underscored the fragile sentiment as markets were jolted by the biggest American ...

All eyes on the Reserve Bank this week as the South African rand takes a dive and the British Pound also retreats from the US Dollar.

By Elizabeth Howcroft

Signs of inflation softening, falls in commodity prices and the easing of China's COVID-19 restrictions have raised hopes so far this year that a global economic downturn may not be as severe as feared. Money markets are pricing in a 98% chance that the Fed will raise rates by 25 basis points next month, and have steadily lowered the likely peak to 4.75% to 5.0%, from the current 4.25% to 4.50%.

European stock indexes edged higher on Monday, while Wall Street futures struggled to make gains as investors weighed up recession fears with hopes that inflation could be past its peak.