US stocks reach new highs after dovish comments from Chairman Powell, awaiting key data ahead.

From Investing.com: 2024-07-03 05:47:00

US stocks surged after Chairman Powell’s comments on disinflation, setting new record highs. Investors eagerly await key data ahead of the bank holiday, focusing on labor market indicators. The euro remains under pressure from dovish ECB commentary, while the dollar/yen rally continues with disappointing Japanese data. Speculation swirls around President Biden’s possible withdrawal, with possible replacements being considered. The ECB tries to pave the way for a rate cut in September, as France prepares for parliamentary elections. BoJ’s patience is tested as Japanese data fails to support the yen’s strength.



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