Wall Street posts its best day in six weeks after oil prices and bond yields ease following Fed rate hike
From the Newshound archive · first published 19 September 2026.
US stocks surged on Thursday, with the S&P 500, Dow Jones and Nasdaq all climbing sharply after falling crude oil prices eased inflation fears and pushed Treasury yields lower. The rally followed the Federal Reserve's first interest rate hike since 2023, which reassured investors the Fed remains committed to controlling inflation. Asian markets rose in Friday's early session, carrying the momentum forward. US stock futures dipped slightly ahead of Friday's open, suggesting some caution after the day's gains.
The Fed raised rates by 25 basis points on Wednesday — its first hike since 2023 — with the move widely seen as a signal it will stay tough on inflation.
WTI crude oil fell more than 2% after US Energy Secretary Wright confirmed 18 million barrels moved through the Strait of Hormuz on Tuesday, easing fears of Middle East supply disruption.
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