Morning Bid: Powell sparks stock volatility, yen soars

Asia gets back up toward full speed on Thursday after many markets were closed for the May Day holiday, with the U.S. Fed's guidance, a surging yen and manufacturing PMIs from across the continent all serving as potential market sign posts.

Treasuries and the dollar played ball, but Wall Street didn't - stocks surged as much as 1.5% on Powell's comments before the S&P 500 and Nasdaq closed in the red. Indeed, the yen staged an extraordinary rally in late U.S. trade on Wednesday, strengthening more than 2% past where it was just before the BOJ's policy decision last Friday.Zooming out from Wednesday's Fed frenzy, and the extraordinary upward shift in implied U.S. rates this year is being widely felt - easing expectations around the world have been pared back, and rates in Australia, for example, are more likely to be raised this year than cut.

This dividend stock is near 52-week highs, but still down from all-time highs, with a highly valuable P/E ratio you won't want to miss. The post 1 Magnificent Dividend Stock That’s Down 21% and Trading at a Once-in-a-Decade Valuation appeared first on The Motley Fool Canada.How Long Would it Take to Turn $95,000 Into $1 Million With TSX Dividend Stocks?

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Morning Bid: Blunt Powell signals rate cut plans on iceThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Morning Bid: Powell dashes easing hopes, markets dented againInvestors in Asia hoping for some relief from surging U.S. bond yields and a rampant dollar would have been deflated by remarks on Tuesday from Federal...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Morning Bid: Bond selloff pauses on Powell, dollar wiltsA pause in the global bond market selloff, stabilization on Wall Street and a softer dollar should all help support Asian markets on Thursday, as investors...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asia Open Looks Mixed; Treasuries Slide on Powell: Markets Wrap(Bloomberg) -- Stocks in Asia were set for a mixed open following hawkish comments by Jerome Powell that helped fuel a third straight drop in the S&P 500 and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asia Open Looks Mixed; Treasuries Slide on Powell: Markets WrapStocks in Asia were set for a mixed open following hawkish comments by Jerome Powell that helped fuel a third straight drop in the S&P 500 and saw two-year Treasury yields briefly hit 5%.
Source: BNNBloomberg - 🏆 83. / 50 Read more »