Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Oct 11 - The Nasdaq rose on Wednesday as easing long-term U.S. Treasury yields boosted megacap stocks, while investors shrugged off hotter-than-expected inflation data and awaited minutes from the Federal Reserve's last policy meeting.
"The massive increase in bond yields in the last few weeks has clearly tightened financing conditions," said Raphael Olszyna-Marzys, international economist at J Safra Sarasin. Fed Governor Michelle Bowman repeated her view that the U.S. central bank will probably need to tighten monetary policy further, while Fed Governor Christopher Waller said the central bank is in a position to watch and see what happens with interest rates.
Meanwhile, the conflict in Middle East raged on as Israel pounded Gaza to root out Hamas and deployed forces north of the densely populated Palestinian enclave, where the militants said they were still fighting after their cross-border assault. Walgreens Boots Alliance rose 1.4% after the pharmacy chain operator said it has appointed Tim Wentworth as its new chief executive.
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