U.S. stocks boosted by rate-hike outlook; dollar slips
BNN Bloomberg
European stocks gained and the dollar fell after Federal Reserve meeting minutes showed support for more moderate interest-rate increases.
The Stoxx Europe 600 Index extended its recent rally as the real estate sector outperformed, boosted by the prospects of slower rate hikes and analyst upgrades. Dr. Martens Plc shares plunged the most on record after the bootmaker's sales and earnings missed expectations.
Trading volumes are expected to be lower due to the Thanksgiving holiday, which will mean no cash U.S. equity market trading. Wall Street futures were up after the S&P 500 closed at a two-month high Wednesday. Asia's equities benchmark climbed.
Minutes from the Fed gathering earlier this month indicated several officials backed the need to moderate the pace of rate hikes, even as some underscored the need for a higher terminal rate. This adds weight to expectations the central bank will raise rates by 50 basis points next month, ending a run of jumbo 75 basis point increases.
