Sun, Jul 02, 2006 - Page 10 News List

Wall Street given a boost by Fed hints

CAUTIOUS OPTIMISM The US Federal Reserve's moves on Thursday sent markets higher, but analysts say that it's too soon to say there won't be more rate hikes ahead

AFP , NEW YORK

But he noted that the market seems to have held key support levels that will limit any downturn.

"The market bounce over the last two days should provide even more conviction that the recent [Dow] 10,700 low seen 10 days ago should provide decent price support in the event of another pullback," Dickson said.

The bond market rallied on the Fed news as well. Yields on the 10-year Treasury bond fell to 5.138 percent from 5.228 percent a week earlier and the 30-year bond yield declined to 5.186 percent from 5.257 percent. Bond yields and prices move in opposite directions.

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