Asian equities jumped on Thursday, while the dollar slid as investors poured into risky assets after Federal Reserve Chair Jerome Powell opened the door to a slowdown in the pace of monetary tightening.
The dollar tumbled to a three-month low versus the yen on Thursday as traders keyed on comments by Federal Reserve Chair Jerome Powell that interest rate hikes could be scaled back "as soon as December."
-Adena Friedman, chief executive officer of Nasdaq Inc, said on Wednesday she expects a quiet first half of 2023 for initial public offerings as investors remain cautious, but is hopeful activity will pick up in the second half of the year.
Wall Street equities closed sharply higher on Wednesday while U.S. Treasury yields declined and the dollar sank after Federal Reserve Chair Jerome Powell said the central bank could slow the pace of interest rate hikes "as soon as December," even as he cautioned that inflation was still too high.
A look at the day ahead in Asian markets from Jamie McGeever. The IMF, the U.S. Treasury Secretary and the world's biggest bond fund all chipped in with their views on China on Wednesday, although what investors really want to hear is word from Beijing. The economic outlook is deteriorating. This is likely to prompt further fiscal and monetary policy easing from the authorities.
* Tesla rises as sales in China nearly double in November - data. * U.S. private payrolls growth slows in November - ADP. * Powell says Fed could scale back rate hikes in December. By Noel Randewich and Shreyashi Sanyal.
* Tesla up as sales in China nearly double in November - data. * U.S. private payrolls growth slows in November - ADP. * S&P 500 +1.71%, Nasdaq +2.87%, Dow +0.93% By Noel Randewich and Shreyashi Sanyal. Nov 30 - Wall Street jumped on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.
* Tesla up as sales in China nearly double in November - data. * U.S. private payrolls growth slows in November - ADP. * Indexes: S&P 500 +0.64%, Nasdaq +1.30%, Dow +0.20% By Noel Randewich and Shreyashi Sanyal. Nov 30 - Wall Street rallied on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.
* Tesla up as sales in China nearly double in November - data. * Fed Chair Powell's speech at 1330 ET. * U.S. private payrolls growth slows in November - ADP. * Dow down 0.47%, S&P off 0.13%, Nasdaq up 0.26% By Shreyashi Sanyal.
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