The 'Trump Trade' is still moving markets, with blistering moves across the global investment landscape. The biggest beneficiery's so far are Japan & US Stocks, the dollar and bitcoin. However, global markets show signs of fatigue after a blistering near-two-week rally.

Wall Street Stocks Show Signs Of Fatigue After A Blistering Rally

US stocks shot up after the Federal Reserve on Wednesday raised the benchmark borrowing rate by 0.75 percentage points amid rising inflation in the country.

It was the biggest interest rate hike in the US since 1994 with food and gas prices soaring in the country.&nbsp;

"It is essential that we bring inflation down if we are to have a sustained period of strong labour market conditions that benefit all," Federal Reserve Chair Jerome Powell said, adding, "We are not trying to induce a recession now, let's be clear about that."

<a href="https://www.wionews.com/business-economy/wall-street-stocks-crash-sp-500-enters-bear-market-amid-recession-fears-487905">Also Read:&nbsp;S&amp;P 500 enters 'bear market' amid recession fears</a>

The historic interest rate hike boosted the Dow Jones Industrial Average which ended the day 1.0 per cent up to close at 30,668.53 while the Nasdaq surged 2.5 points to 11,099.15.

Meanwhile, US President Biden hit out at major oil corporations asserting that "profit margins well above normal being passed directly onto American families are not acceptable".

Watch:&nbsp;US inflation hits new 40-year high

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In a letter to the oil companies, the US president said his administration was "prepared to use all reasonable and appropriate federal government tools and emergency authorities to increase refinery capacity" even as White House Press Secretary Karine Jean-Pierre said it was the &nbsp;"patriotic duty" of oil companies to increase output.

Biden said families "deserve immediate action" while asking oil companies to come up with concrete, near-term solutions to address the crisis.

(With inputs from Agencies)

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US stocks shot up after the Federal Reserve on Wednesday raised the benchmark borrowing rate by 0.75 percentage points amid rising inflation in the country. It was the biggest interest rate hike in the US since 1994 with food and gas prices soaring in the country.

US stocks shot up after the Federal Reserve on Wednesday raised the benchmark borrowing rate by 0.75 percentage points amid rising inflation in the country. It was the biggest interest rate hike in the US since 1994 with food and gas prices soaring in the country. "It is essential that we bring inflation down if we are to have a sustained period of strong labour market conditions that benefit all," Federal Reserve Chair Jerome Powell said, adding, "We are not trying to induce a recession now, let's be clear about that." Also Read: S&P 500 enters 'bear market' amid recession fears The historic interest rate hike boosted the Dow Jones Industrial Average which ended the day 1.0 per cent up to close at 30,668.53 while the Nasdaq surged 2.5 points to 11,099.15. Meanwhile, US President Biden hit out at major oil corporations asserting that "profit margins well above normal being passed directly onto American families are not acceptable". Watch: US inflation hits new 40-year high In a letter to the oil companies, the US president said his administration was "prepared to use all reasonable and appropriate federal government tools and emergency authorities to increase refinery capacity" even as White House Press Secretary Karine Jean-Pierre said it was the "patriotic duty" of oil companies to increase output. Biden said families "deserve immediate action" while asking oil companies to come up with concrete, near-term solutions to address the crisis. (With inputs from Agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US Federal Reserve announces historic interest rate hike; Wall Street stocks surge

The United States is delaying until December 15 imposition of new <a href="https://www.wionews.com/business-economy/oil-edges-down-on-lower-demand-outlook-us-china-trade-dispute-242428">10 per cent tariffs</a> on Chinese electronics, but going ahead with new duties starting September 1 on $300 billion in Chinese goods, the government announced Tuesday.

The delay will impact&nbsp;cell phones, laptops, computer monitors, video game consoles and some toys, footwear and clothing, the US trade representative said in a statement.

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<blockquote class="twitter-tweet">
As usual, China said they were going to be buying “big” from our great American Farmers. So far they have not done what they said. Maybe this will be different!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1161278978201661440?ref_src=twsrc%5Etfw">August 13, 2019</a></blockquote>
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A separate <a href="https://www.wionews.com/business-economy/volatility-in-chinas-yuan-due-to-escalating-us-trade-friction-pboc-official-242161">group of products</a> will also be exempt altogether "based on health, safety, national security and other factors," it added.

As Washington and Beijing work to resolve the escalating trade war, USTR Robert Lighthizer spoke with Chinese trade officials early Tuesday and has another call planned in two weeks, a USTR official said.

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Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of billions of dollars that the U.S. is receiving is a gift from China. Prices not up, no inflation. Farmers getting more than China would be spending. Fake News won’t report!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1161258370478858240?ref_src=twsrc%5Etfw">August 13, 2019</a></blockquote>
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Equity markets on both sides of the Atlantic rose strongly on Tuesday, reversing an earlier weak trend, after US President Donald Trump delayed some new tariffs on Chinese goods.

Around 1400 GMT on Wall Street, the DJIA index was up 1.6 per cent and the tech-heavy Nasdaq more than two per cent, with European indices also rallying after the US said it would delay new tariffs on electronics from China to December 15.

The United States is delaying until December 15 imposition of new 10 per cent tariffs on Chinese electronics, but going ahead with new duties starting September 1 on $300 billion in Chinese goods, the government announced Tuesday.

The United States is delaying until December 15 imposition of new 10 per cent tariffs on Chinese electronics, but going ahead with new duties starting September 1 on $300 billion in Chinese goods, the government announced Tuesday. The delay will impact cell phones, laptops, computer monitors, video game consoles and some toys, footwear and clothing, the US trade representative said in a statement. As usual, China said they were going to be buying “big” from our great American Farmers. So far they have not done what they said. Maybe this will be different! — Donald J. Trump (@realDonaldTrump) August 13, 2019 × A separate group of products will also be exempt altogether "based on health, safety, national security and other factors," it added. As Washington and Beijing work to resolve the escalating trade war, USTR Robert Lighthizer spoke with Chinese trade officials early Tuesday and has another call planned in two weeks, a USTR official said. Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of billions of dollars that the U.S. is receiving is a gift from China. Prices not up, no inflation. Farmers getting more than China would be spending. Fake News won’t report! — Donald J. Trump (@realDonaldTrump) August 13, 2019 × Equity markets on both sides of the Atlantic rose strongly on Tuesday, reversing an earlier weak trend, after US President Donald Trump delayed some new tariffs on Chinese goods. Around 1400 GMT on Wall Street, the DJIA index was up 1.6 per cent and the tech-heavy Nasdaq more than two per cent, with European indices also rallying after the US said it would delay new tariffs on electronics from China to December 15.

US to delay new tariffs on Chinese electronics until December 15; Wall Street stocks jump

US stocks climbed on Tuesday, as investors picked up beaten-down technology and <a href="https://www.wionews.com/business-economy/wall-street-shudders-as-us-china-trade-war-intensifies-218493">industrial stocks following optimistic</a> comments from Washington and Beijing that tempered concerns about a further escalation in the trade war.

Technology shares rose 1.56 per cent, the most among major S&amp;P sectors, lifted by gains in Microsoft Corp, Visa Inc and chipmakers.

Wall Street witnessed one of its worst selloffs this year in the previous session, with the S&amp;P and the Dow recording their largest percentage drops since January 3rd, after China announced retaliatory tariffs on US goods.

Markets took relief from comments by US President Donald Trump that he would talk with <a href="https://www.wionews.com/world/if-someone-attacks-us-on-our-doorstep-we-will-fight-to-the-finish-china-on-trade-war-with-us-218705">Chinese counterpart at a G20 Summit</a> in late June and China said on Tuesday both sides have agreed to keep the talks going.

"Today's reaction is investors looking for value," said Peter Cecchini, managing director and chief market strategist at Cantor Fitzgerald in New York.

"There is still a concern around the evolution of the trade talks. The US has stood out relative to the rest of the world when it comes to its economic performance, and it is arguable whether or not that can be sustained."

Prospects of the global economy being derailed by the United States and China sliding into a fiercer, more protracted dispute has knocked more than 4 per cent off the S&amp;P 500 since hitting an all-time high on May 1st.

At 11:19 a.m. ET, the Dow Jones Industrial Average was up 251.49 points, or 0.99%, at 25,576.48, the S&amp;P 500 was up 27.69 points, or 0.98%, at 2,839.56 and the Nasdaq Composite was up 86.94 points, or 1.14%, at 7,733.97.

Nine of the 11 major S&amp;P sectors were higher, with technology, energy, industrial and financial sectors gaining more than 1 per cent.

The tech sector took a beating on Monday as many tech companies rely on China for a large part of their revenue.

Boeing Co shares were up 2 per cent, providing the biggest boost to the Dow. The company said it handed over 24 per cent fewer jet airplanes in the first four months of 2019, hurt by the grounding of its 737 MAX aircraft.

Coca-Cola Co's shares rose 2% after Morgan Stanley upgraded the stock to "overweight", saying higher growth had not been priced into the stock's valuation.

Walt Disney Co's shares gained 1.9 per cent after it signed a pact with Comcast Corp to assume full operational control of streaming service Hulu.

Luxury apparel maker Ralph Lauren Corp's shares fell 7 per cent, the most on the S&amp;P 500, as weak sales in its biggest market, North America, overshadowed quarterly profit beat.

Advancing issues outnumbered decliners by a 3.07-to-1 ratio on the NYSE and a 2.31-to-1 ratio on the Nasdaq. The S&amp;P index recorded 15 new 52-week highs and six new lows, while the Nasdaq recorded 30 new highs and 63 new lows.

US stocks climbed on Tuesday, as investors picked up beaten-down technology and industrial stocks following optimistic comments from Washington and Beijing that tempered concerns about a further escalation in the trade war.

US stocks climbed on Tuesday, as investors picked up beaten-down technology and industrial stocks following optimistic comments from Washington and Beijing that tempered concerns about a further escalation in the trade war. Technology shares rose 1.56 per cent, the most among major S&P sectors, lifted by gains in Microsoft Corp, Visa Inc and chipmakers. Wall Street witnessed one of its worst selloffs this year in the previous session, with the S&P and the Dow recording their largest percentage drops since January 3rd, after China announced retaliatory tariffs on US goods. Markets took relief from comments by US President Donald Trump that he would talk with Chinese counterpart at a G20 Summit in late June and China said on Tuesday both sides have agreed to keep the talks going. "Today's reaction is investors looking for value," said Peter Cecchini, managing director and chief market strategist at Cantor Fitzgerald in New York. "There is still a concern around the evolution of the trade talks. The US has stood out relative to the rest of the world when it comes to its economic performance, and it is arguable whether or not that can be sustained." Prospects of the global economy being derailed by the United States and China sliding into a fiercer, more protracted dispute has knocked more than 4 per cent off the S&P 500 since hitting an all-time high on May 1st. At 11:19 a.m. ET, the Dow Jones Industrial Average was up 251.49 points, or 0.99%, at 25,576.48, the S&P 500 was up 27.69 points, or 0.98%, at 2,839.56 and the Nasdaq Composite was up 86.94 points, or 1.14%, at 7,733.97. Nine of the 11 major S&P sectors were higher, with technology, energy, industrial and financial sectors gaining more than 1 per cent. The tech sector took a beating on Monday as many tech companies rely on China for a large part of their revenue. Boeing Co shares were up 2 per cent, providing the biggest boost to the Dow. The company said it handed over 24 per cent fewer jet airplanes in the first four months of 2019, hurt by the grounding of its 737 MAX aircraft. Coca-Cola Co's shares rose 2% after Morgan Stanley upgraded the stock to "overweight", saying higher growth had not been priced into the stock's valuation. Walt Disney Co's shares gained 1.9 per cent after it signed a pact with Comcast Corp to assume full operational control of streaming service Hulu. Luxury apparel maker Ralph Lauren Corp's shares fell 7 per cent, the most on the S&P 500, as weak sales in its biggest market, North America, overshadowed quarterly profit beat. Advancing issues outnumbered decliners by a 3.07-to-1 ratio on the NYSE and a 2.31-to-1 ratio on the Nasdaq. The S&P index recorded 15 new 52-week highs and six new lows, while the Nasdaq recorded 30 new highs and 63 new lows.

Tech stocks power Wall Street after trade war rout

Cancer drugmaker Medivation yesterday gained nearly 20 per cent after the announcement it would be bought by Pfizer, but Wall Street stocks were otherwise generally flat. 
 
The Dow Jones Industrial Average closed down 0.1 per cent at 18,529.42 while the S&amp;P 500 fell less than 0.1 per cent to 2,182.64. 
 
The tech-heavy Nasdaq, where Medivation is listed, rose 0.1 per cent 5,244.60 
 
Chris Low of FTN Financial said the markets were in wait-and-see mode, with a lack of economic data coming this week and a much-anticipated speech from Federal Reserve Chair Janet Yellen due on Friday in Jackson Hole, Wyoming. 
 
&quot;Traders are looking at this and are probably reluctant to take a position on either side of the market as long as there are opportunities for surprises,&quot; Low told AFP. 
 
Pfizer on Monday announced it had reached a deal to purchase Medivation, which manufactures a prized prostate cancer medication, for $14 billion. 
 
Pfizer was down 0.4 per cent and Johnson &amp; Johnson fell almost 0.7 per cent. But Merck and Eli Lilly were both up 0.3 per cent 
 
Social media giant Twitter lost 2.3 per cent. 
 
Peter Cardillo of First Standard Financial Company told AFP that markets would likely continue to move sideways until Yellen&#39;s speech. 
 
&quot;We are looking at the Jackson Hole meeting later this week and I think this is going to keep the market in a range, a little higher, a little lower,&quot; he said. &quot;Just trading sideways for most of the week.&quot; 
 
Oil stocks were split on Monday as crude prices sank, with Chevron Corp down 0.4 percent but Exxon Mobil up 0.2 per cent. 
 
Oil services contractor Halliburton fell 3.8 per cent while Baker Hughes was 1.7 per cent lower than Friday&#39;s close. 
 
(AFP)

Chris Low of FTN Financial said the markets were in wait-and-see mode with a much-anticipated speech from Federal Reserve Chair Janet Yellen

Cancer drugmaker Medivation yesterday gained nearly 20 per cent after the announcement it would be bought by Pfizer, but Wall Street stocks were otherwise generally flat. The Dow Jones Industrial Average closed down 0.1 per cent at 18,529.42 while the S&P 500 fell less than 0.1 per cent to 2,182.64. The tech-heavy Nasdaq, where Medivation is listed, rose 0.1 per cent 5,244.60 Chris Low of FTN Financial said the markets were in wait-and-see mode, with a lack of economic data coming this week and a much-anticipated speech from Federal Reserve Chair Janet Yellen due on Friday in Jackson Hole, Wyoming. "Traders are looking at this and are probably reluctant to take a position on either side of the market as long as there are opportunities for surprises," Low told AFP. Pfizer on Monday announced it had reached a deal to purchase Medivation, which manufactures a prized prostate cancer medication, for $14 billion. Pfizer was down 0.4 per cent and Johnson & Johnson fell almost 0.7 per cent. But Merck and Eli Lilly were both up 0.3 per cent Social media giant Twitter lost 2.3 per cent. Peter Cardillo of First Standard Financial Company told AFP that markets would likely continue to move sideways until Yellen's speech. "We are looking at the Jackson Hole meeting later this week and I think this is going to keep the market in a range, a little higher, a little lower," he said. "Just trading sideways for most of the week." Oil stocks were split on Monday as crude prices sank, with Chevron Corp down 0.4 percent but Exxon Mobil up 0.2 per cent. Oil services contractor Halliburton fell 3.8 per cent while Baker Hughes was 1.7 per cent lower than Friday's close. (AFP)

Medivation surges on Pfizer takeover as US markets stay flat