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US markets cheer Powell's rates decision

Jan 31, 2019 - City A.M.
Negative Financial Results

US STOCKS stocks surged last night after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.

Along with better-than-feared quarterly results from Apple, the Fed's comments helped Wall Street reverse two down days triggered by profit warnings from US bellwethers that signaled a bigger impact from a slowdown in China.

The US central bank held interest rates steady, as widely expected.