Stocks Extend Fed, Data-Fueled Rally, Dollar Slides

Stocks Extend Fed, Data-Fueled Rally, Dollar Slides
The Marriner S. Eccles Federal Reserve Board Building in Washington on July 14, 2016. Benjamin Chasteen/Epoch Times
|Updated:

NEW YORK—An index of world stocks rose on Jan. 7, extending strong gains logged last week as investors took heart from last week’s robust U.S. employment data and a message from the U.S. central bank that it would be patient and flexible in policy decisions this year.

Growing bets the Federal Reserve will halt its multi-year rate hike cycle sent the dollar lower across the board, while rising equity markets and support from OPEC production cuts helped lift oil prices.