President of Summit Place Financial Advisors Liz Miller:
"The big news is the expectation that we're now going to see year end rates around 1.9 percent. That's huge because we had been expecting before, even as recently as December just three increases this year. [FLASH] With this new expectation of reaching around 1.9 percent by the end of 2022. That means we're looking at about six rate hikes going forward or we're going to look at higher rate hikes."
Wall Street liked that. The Dow finished up a percent and a half. The S&P 500 ended two and a quarter percent higher, while the Nasdaq closed up a whopping three and three quarters of a percent.
Big tech led the rally, with Apple, Amazon and Meta Platforms all notching big gains.
The market also rose on signs of progress in peace talks between Russia and Ukraine, whose president said negotiations were becoming "more realistic."
The global mood was also lifted by China's promise to roll out more stimulus and keep markets stable.
The country's securities regulator also signaled it would step back from a regulatory crackdown on China's tech giants.
That catapulted U.S.-listed shares of Baidu, JD.com and Didi Global, all finishing up around 40% higher.
