GLOBAL MARKETS-Stocks soothed by Fed signals, yen swings again [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
OECD upgrades global growth outlook as US outperforms Graphic: World FX rates http://tmsnrt.rs/2egbfVh By Marc Jones LONDON, May 2 (Reuters) - A sense of relief percolated through world markets on Thursday after the Federal Reserve shot down talk of pivoting back to interest rate hikes, while the yen backtracked after another suspected bout of FX intervention. Europe's big bourses made a sluggish start as much of the region returned from a day off, but after a choppy few weeks dealers were just happy the Fed hadn't inflicted any major damage, and that borrowing costs were ticking down again. The Fed's rate setters unanimously decided to leave U.S. rates in the 5.25% to 5.5% range they have been in since July but it was the post meeting press conference that proved most interesting. While Fed chair Jerome Powell indicated that stubbornly high inflation would see a long-expected U.S. rate cut pushed back, he refused to entertain talk that rates might actually need to go up
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