Equities New York: Continued recovery with momentum – interest rate is being questioned

NEW YORK (dpa-AFX) – On Friday, the US stock market continued the recovery that started late the previous day with a lot of momentum. Market observers currently think it is conceivable that the US Federal Reserve could take its foot off the gas a bit on its rapid rate hike course if the economy slides into recession and inflation cools down a bit.

The Dow Jones Industrial rose 2.16 percent to 31,338.53 points with two hours to go. At 31,370 points, it had reached a high for two weeks. At the end of May there was a weekly plus for the last time, but now the leading US index is heading for an almost five percent weekly gain. The market-wide S&P 500 rose 2.39 percent to 3886.38 points on Friday.

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