The US markets showed optimism on May 2 after two days of losses as Federal Reserve chairman Jerome Powell ruled out the possibility of rate hikes, ending the uncertainty gripping the markets. On Wednesday, Powell also put investors at ease from the worries of quantitative tightening, by announcing slower balance sheet reduction.
Owing to the positive cues, the S&P 500 was up 0.17 percent at 5,026.65, and the Nasdaq Composite edged 0.36 percent higher to 15,661.32. The Dow Jones Industrial Average also traded positive, up 0.26 percent at 38,000.68.
The indices traded higher despite the weak performances of earnings reports. This came as the Federal Reserve’s decision to keep interest rates unchanged, which stayed in line with the market expectations, pulled the markets into green.
The GIFT Nifty was marginally up 0.08 percent at 22,802.00.
European markets traded mixed over wavering foreign investment inflows. The FTSE was up 0.62 percent at 8,171.86 while the DAX traded flat-to-negative at 17,924.78. The CAC was also down 0.68 percent at 7,930.99.