In some what of a surprise, Jerome Powell left the door open for the possibility of a rate cut. The DOW rallied 512 points on the prospect and global markets have followed suit. The Nikkei225 is up 350 points approaching the close whilst the Hang Seng has risen a rather more sedate looking 147 points.
Comments from a Chinese official on trade tensions suggesting that there will be no further escalation of the dispute also helped markets.
lets be clear, there was no rate cut only the mention of the possibility of one. The NASDAQ had only just entered correction territory and very quickly moved out. These markets are very fragile but we continue to see buying on dips