Global stocks surges, dollar falls over Fed’s dovish approach

The U.S. dollar moved down today, just a day after minutes from the Federal Reserve’s May meeting suggested the central bank would stay flexible and may suspend rate rises later this year.

The three major U.S. indexes ended the week with their greatest weekly gains since mid-March, as Wall Street finished higher.

The MSCI’s benchmark for global stocks (.MIWD00000PUS) was up 1.54% at 4:25 p.m. EDT (2025 GMT).
Europe’s pan-regional STOXX 600 (.STOXX) equity benchmark index rose 0.78%.
The Dow Jones Industrial Average. DJI rose 516.91 points, or 1.61%, to 32,637.19; the S&P 500.

SPX gained 79.11 points,. SPX increased 1.99%, to 4,057.84; and the Nasdaq.IXIC added 2.68%.
The U.S. dollar fell 0.284% against a basket of global currencies.
The euro was up 0.44% to $1.0727.
In commodities, Brent futures rose $3.37, or 3.0%, to settle at $117.40 a barrel.
South Korea’s central bank raised interest rates for a second consecutive meeting as it grapples with consumer inflation at 13-year highs.

This report’s information was first seen on Reuters; to read more, click this link.