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Dow Jones gains 600 points in strong rally
The U.S. stock market rose significantly, with the Dow Jones Industrial Average jumping 635 points (1.2%), amid falling U.S. Treasury bond yields and expectations that interest rates will remain unchanged this month, as the 10-year bond yield declined to around 4.75%. This followed Federal Reserve Chair’s remarks indicating the possibility of holding interest rates steady unless upcoming inflation data shows surprises, which boosted investor optimism and supported the market. Additionally, oil prices increased, and Snap Inc. shares rose by more than 19% after strong quarterly results, while Qualcomm’s stock fell 4% following weak earnings reports.
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