Stocks rose Monday and Treasuries held an advance on Jerome Powell’s signal of a cautious and gradual withdrawal of pandemic-era Federal Reserve policy support. Oil climbed as a hurricane roils U.S. energy supplies.
Shares gained in Japan, Australia and South Korea. U.S. futures edged up after a record Wall Street close in the wake of Chair Powell’s Jackson Hole speech. Powell said the Fed may start paring bond purchases this year but is in no hurry to raise interest rates and will be guided by data on Covid-19 risks.
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