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Brent crude futures were up 91 cents, or 1.08%, at $85.54 a barrel by 1250 GMT, while U.S. West Texas Intermediate crude futures gained 83 cents, or 1.03%, to $81.27 a barrel. ....
After all, fresh foreign purchases will be key to revival of the stock market that has slid in the past two weeks after hitting all-time highs in mid-September. But with the surge in global oil prices, US bonds yields and the dollar contributing to fresh risk aversion in emerging markets, including India, brokers and strategists say the mood of the foreign investors remains cautious. ....
That more elevated future rate path reflects that the economy is holding up better than expected in the face of the Fed s policy changes so far: Officials forecast stronger growth, lower unemployment and slower inflation at the end of 2023 than they had earlier predicted. ....
Fed officials will release economic projections after their gathering this week, which takes place Tuesday and Wednesday, offering a fresh look at whether most policymakers still think one final rate increase is likely to be necessary. The projections will also show how officials are interpreting a confusing moment in the economy, when consumer spending has been stronger than many economists expected even as inflation has cooled down a bit more quickly. ....