---
title: "Wall Street Set for Rebound as Powell’s Comments Bolster Market Confidence"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-05-02T11:43:17+00:00"
modified: "2024-05-02T14:48:50+00:00"
date: 2024-05-02
canonical: "https://www.share-talk.com/wall-street-set-for-rebound-as-powells-comments-bolster-market-confidence/"
category: "B2B"
categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["Asia", "Baker Hughes", "Barclays", "BP", "count", "crude", "Dow Jones", "Dow Jones Industrial Average", "economy", "Fawad Razaqzadal", "Federal Reserve", "FTSE100", "gas", "Hamas", "HSBC Holdings", "Intermediate Crude", "Israel", "Jamal Khashoggi", "Jerome Powell", "Joe Biden", "Legal & General", "Lloyds Banking Group", "London", "Mohammed bin Salman", "NASDAQ", "NatWest Group", "Netflix", "oil", "OPEC", "OPEC meeting", "President", "Prince Abdulaziz bin Salman", "production", "Prudential", "RIG", "Riyadh", "Russia", "S&P 500", "Saudi Arabia", "Share Talk", "Shell", "Silicon Valley Bank", "southern Gaza", "Speculators", "STOCKS", "Tesla", "UAE", "US", "USA", "Wall Street", "wellpad", "West Texas"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/USA-16_10_23.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Wall Street Set for Rebound as Powell’s Comments Bolster Market Confidence

**Published:** May 2, 2024
**Author:** sharetalk
**Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** Asia, Baker Hughes, Barclays, BP, count, crude, Dow Jones, Dow Jones Industrial Average, economy, Fawad Razaqzadal, Federal Reserve, FTSE100, gas, Hamas, HSBC Holdings, Intermediate Crude, Israel, Jamal Khashoggi, Jerome Powell, Joe Biden, Legal & General, Lloyds Banking Group, London, Mohammed bin Salman, NASDAQ, NatWest Group, Netflix, oil, OPEC, OPEC meeting, President, Prince Abdulaziz bin Salman, production, Prudential, RIG, Riyadh, Russia, S&P 500, Saudi Arabia, Share Talk, Shell, Silicon Valley Bank, southern Gaza, Speculators, STOCKS, Tesla, UAE, US, USA, Wall Street, wellpad, West Texas
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/USA-16_10_23.jpg?fit=1200%2C800&quality=89&ssl=1)

---

US stock markets are poised to open higher following the Federal Reserve’s decision to maintain interest rates, easing concerns about imminent hikes.

Despite Federal Reserve Chairman Jerome Powell acknowledging that persistent inflation delays anticipated rate cuts in the US, he dismissed the possibility of further rate increases.

According to the CME FedWatch tool, money markets are forecasting a 58% likelihood of a rate cut by September, increasing to a 69% probability by November.

https://twitter.com/Share_Talk/status/1785995550061396400

Preston Caldwell, Chief US Economist at Morningstar, commented on the situation:

The Fed’s recent statement recognized a ‘lack of further progress’ on reducing inflation in recent months.

However, Powell confidently stated that the existing monetary policy is restrictive enough to eventually bring inflation down to the Fed’s 2% target, making a rate hike unlikely as the next step.

Following the Fed’s announcement, US stocks initially climbed but closed mixed on Wednesday.

In premarket activity, the Dow Jones Industrial Average rose by 0.4%, the S&P 500 increased by 0.6%, and the Nasdaq 100 gained 0.9%.

---

**Original URL:** https://www.share-talk.com/wall-street-set-for-rebound-as-powells-comments-bolster-market-confidence/
*Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*