Market Watch

Markets defy impending Fed rate hikes

The Dow Jones index surged a remarkable 700.53 points or 2.13 per cent on Friday. PHOTO: REUTERS
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SINGAPORE – Weaker-than-expected US December jobs data fanned a strong Wall Street rally, just days after minutes of the last Federal Reserve meeting indicated that the United States central bank was not inclined to pivot away from its hawkish stance on rates.

The Dow Jones index surged a remarkable 700.53 points, or 2.13 per cent, last Friday, to tally up a 1.46 per cent gain for the week as it closed out at 33,630.61 points.

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