The main US stock indexes are trading towards new session highs. Gains are led by the Nasdaq index which is up 256 points or 1.58% at 16,425.45. The S&P is up 0.86%. The small-cap Russell 2000 is up 0.77%.
The gains are aided by the relief of PPI data earlier in the day. US yields also turned negative with a fall of 1.4 basis points for the 10-year.
The Fed’s comments haven’t been as hawkish, leading traders to wonder if they are overreacting to inflation fears.
The upward pace continues.
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