Dow Jones leads as US stocks press higher after Powell adds cautionary note

The US stock markets have risen further this afternoon and are extending their gains following the perceived dovish comments from the Fed boss, Jerome Powell a little earlier. Powell has said that the Fed is proceeding carefully as the risks of over-tightening are increasing. That has been the sentence that has really set the ball rolling for stocks. However, it is not all one-dimensional though and the Dow Jones is still very much the front runner in terms of gains. The index has lifted to 36,188, as even the Nasdaq 100 rebound back above 15,950. The dollar took a hit on those Powell comments too, especially the USD/JPY. That has now taken out the previous interim low at 147.15, as bonds continue to attract flow and yields drop further.