U.S. stocks soared as investors grew confident that the Federal Reserve will not raise rates higher than the already priced in peak levels. The S&P 500 rose 1.1%, while the tech-heavy Nasdaq 100 was up 1.14% by 12.28 p.m. in New York. Meanwhile, the yield on 10-year Treasuries declined seven basis points to 3.99%.
Crude prices increased 1.4%, while gold prices were up 0.6%. Bitcoin tanked 4.3% to trade around the $22,400 level.
Indian benchmark indices—Sensex and Nifty—closed with 1.5% gains, which was the biggest single-day advance in four weeks.
Rupee strengthened against the U.S. dollar amid high foreign fund inflow and rise in domestic equities.
