Wall Street rises as Fed, PMI give boost; global share mkts also up

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Reuters

By Chris Prentice and Elizabeth Howcroft WASHINGTON/LONDON (Reuters) -Wall Street and global equity markets were broadly higher on Wednesday after reassurances from U.S. Federal Reserve Chair Jerome Powell that the Fed is not rushing to hike interest rates, while European stocks remained under pressure. The market is still feeling the aftereffects of the Fed’s surprise projection last week for rate hikes as soon as 2023, which knocked stocks, boosted the dollar and led to the flattening of the U.S. bond yield curve. The tech-heavy Nasdaq hit a record on Wednesday after Powell sought to reassur…

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