Powell Is Scaring No One on Wall Street as Market Gains Broaden
- Cross-asset weekly advance by one measure is best of the year
- Equal-weight S&P 500 rises to record as more stocks join rally
Jerome Powell,
Photographer: Tierney L. Cross/BloombergThis article is for subscribers only.
Anyone betting that a hawked-up Jerome Powell would strike fear on Wall Street this week was left disappointed.
Stubborn resilience in bonds, commodities and the broader universe of stocks — with a fresh surge in crypto — were the defining features of the trading landscape as the Federal Reserve chair delivered hours of congressional testimony.