Investors weigh whether stocks have more bounce

Economic boost: A television screen on the floor of the New York Stock Exchange shows the rate decision of the Federal Reserve. The Fed’s quarter-point hike marks the start of its effort to curb high inflation. — AP

NEW YORK: Wall Street stormed back this week after absorbing a long-awaited rate hike from the Federal Reserve (Fed), leaving investors to determine whether stocks are set for a sustained rebound or more turbulence.

Following a months-long drubbing, the S&P 500 delivered its best weekly gain since November 2020 as investors cheered increased clarity on monetary policy and an encouraging assessment of the United States economy from the Fed.