Oil edges higher, stocks rally as Fed officials temper September rate hike fears
Global stocks rallied as Fed officials eased fears of a September rate hike, while oil prices rose amid renewed US-Iran fighting and inflation concerns.
Stocks experienced a rise on Friday as comments from top Federal Reserve officials eased concerns about an imminent interest rate hike. However, traders remained cautious, with oil prices climbing again due to tensions between the United States and Iran. Inflation data and the upcoming non-farm payrolls figures have investors anticipating the Fed's decision.
Fed officials, such as New York Fed boss John Williams and governor Christopher Waller, emphasized that their decisions would be based on incoming data, with Waller stating that a softer reading could lead him to hold rates. The Fed chief and other officials' cautious approach comes as investors await crucial economic data releases.
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