Powell Meeting On? Depends on Who You Ask

Dow Jones Industrial Average

Global stocks soared Friday and reversed the big losses they suffered just a day earlier. The S&P 500 gained 3.4 percent while the Nasdaq also crossed into positive territory, up 4.3 percent.

Hopes for progress in the U.S.

A much-anticipated talk from US Federal Reserve Chairman, Jerome Powell, revealed indications of a softened American Dollar, as he had been quoted saying that, the central bank was sensitive to the risks highlighted by the investors. He acknowledged that recent economic reports out of China were mixed, but noted that the Chinese authorities are responding with additional stimulus. The tensions have dragged on for almost a year, slowing business and dragging down stock indexes worldwide.

United States jobs growth increased at a higher rate than expected in December according to the latest data, as employers hired the most workers for 10 months and wages also rose. Currently, the US inflation rate remains below what the Fed considers an optimal 2 percent level, meaning there is still space for economic expansion and workers are just beginning to benefit from the growth.

The stock market's plunge also threatened to shake up the confidence and the spending plans of businesses and consumers.

USD/JPY: The dollar gained against the Japanese yen on Friday, as investors dumped safe haven yen after China announced new measures to support its economy and hopes grew that upcoming U.S. "US data seem to be on track to sustain good momentum in to the New Year, " he said.

By Rich MillerFederal Reserve Chairman Jerome Powell has managed to assuage fickle financial markets by muddying the central bank's monetary message.

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Rashida Tlaib (D-Mich.) said of Trump Thursday night that her plan is to "impeach the motherf--er", the president took offense . The scheduled raises appeared to be an unintended outcome of the government shutdown , The Associated Press reported .

Rockets’ Clint Capela says James Harden inspired his rebounding run
Raptors guard Danny Green went 0 for seven from the field and 0 of six from three-point range in Toronto's loss to the Spurs. Harden also got help from Clint Capela , who tallied his third 20-20 game of the season with 29 points and 21 rebounds.

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I knew how important it was and how it was a dream. "And I'll state it again , to anybody I've hurt, I'm sorry". "I personally thought his apology after ... all this broke was sort of a non-apology apology", Huntsman said .

Private economists viewed Powell's comments as a strong signal that the Fed, which in December had projected another two rate hikes in 2019, may end up deciding to pause hikes for several months.

"Investors and Fed officials will certainly take some comfort from today's stellar jobs report", Oxford Economics said in a research note. Asked if he had had any face-to-face meetings with Trump, Powell said he had not although he said previous Fed leaders have had discussions from time to time with previous presidents.

In a session emblematic of the elevated volatility that has gripped markets for weeks, all three major US stock indexes surged more than 3 percent in one of the broadest advances in years. Average hourly earnings rose 3.2% year over year, the fastest pace since 2009. The Nasdaq composite jumped 158 points, or 2.4 per cent, to 6,621.

About 90 per cent of the stocks on the New York Stock Exchange traded higher.

Speaking after months of volatility in world bond and stock markets, Powell avoided some of the communication missteps that in the past have roiled rather than calmed investors.

Technology companies, banks, health care and industrial companies all made strong gains. He also pledged to stay in his job even if asked to quit by President Donald Trump, who has been critical of him.

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