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Markets Update: U.S. stocks climb as tech recovers, Bitcoin soars. Attention on Fed policy meeting, with dot plot and rate forecast anticipated. Turkish lira drops following the detention of Erdogan's opponent. Gold remains close to $3,000 as safe-haven demand persists.
Global Markets Roundup: 19 March 2025
Wall Street climbed on Wednesday as megacap tech stocks led a broad-based rally, while investors awaited the Federal Reserve’s policy decision for signals on future rate moves. The dollar strengthened ahead of the announcement, while the Turkish lira tumbled following the arrest of Istanbul Mayor Ekrem Imamoglu, a key political opponent of President Tayyip Erdogan.
Markets Look to Fed for Rate Signals
The Federal Reserve is widely expected to hold rates steady in the 4.25%-4.50% range, but investors will closely analyze the central bank’s economic projections, dot plot, and Fed Chair Jerome Powell’s comments for any hints on the timing of future rate cuts.
U.S. Stocks Gain, Nasdaq Leads
Wall Street rallied as risk appetite returned, led by tech stocks:
Dow Jones Industrial Average rose 246.54 points (0.60%) to 41,829.45
S&P 500 gained 36.30 points (0.65%) to 5,650.99
Nasdaq Composite climbed 159.22 points (0.90%) to 17,661.27
European Stocks Struggle for Direction
European equities held steady after the previous session’s gains, with investors awaiting the Fed decision:
FTSEurofirst 300 slipped 0.02%
STOXX 600 remained flat
Globally, MSCI’s gauge of stocks rose 0.39%, while Asian markets saw slight declines, with Japan’s Nikkei down 0.25%.
Turkish Lira Plummets as Political Crisis Deepens
Turkey’s financial markets reeled after Imamoglu’s arrest, which opposition leaders called “a coup against our next president”. The lira plunged 14.5% intraday before recovering some losses.
Bitcoin and Ethereum Rally on Risk Appetite
Cryptocurrencies gained as investors returned to risk assets:
Bitcoin jumped 2.65% to $84,190.58
Ethereum surged 6.52% to $2,029.63
Bond Yields Edge Higher Ahead of Fed Outlook
Treasury yields rose slightly, reflecting expectations for Fed guidance on monetary policy:
10-year yield increased 1.7 basis points to 4.298%
30-year bond yield edged 0.7 basis points higher to 4.5861%
2-year yield, sensitive to Fed expectations, rose 3.6 basis points to 4.078%
Oil Fluctuates Amid Russia-Ukraine Energy Dispute
Crude oil prices remained volatile after Russia and Ukraine accused each other of violating a 30-day ceasefire on energy infrastructure:
U.S. crude rose 0.33% to $67.12 per barrel
Brent crude climbed 0.35% to $70.81 per barrel
Gold Holds Firm Near Record Highs
Gold continued to trade near $3,000 per ounce, benefiting from safe-haven demand amid geopolitical uncertainty:
Spot gold eased 0.1% to $3,030.87 per ounce
U.S. gold futures fell 0.13% to $3,031.10 per ounce
Agricultural Commodities
The most-active wheat contract on the CBOT ZW1! increased by 0.3% to $5.66-1/2 a bushel. Corn ZC1! remained steady at $4.58-3/4 a bushel, while soybeans ZS1! edged up by a slight 0.02% to $10.13 a bushel.
CT1!−0.44% Cotton prices are beginning Wednesday US session with further weakness, showing declines of 29 to 45 points in the nearby futures. The contracts ended the Tuesday session down by 30 to 51 points.
Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team