Wall Street rallies as US GDP falls for a second straight quarter raising recession risks; ASX follows - ABC News

7/28/2022 12:00:00 AM2 years 9 months ago
by ABC News

The US economy enters what some economists may define as a recession, but stocks on Wall Street are booming and Australian shares are taking cues as traders bet interest rates will not rise as high as feared.

The US economy has entered what some economists may define as a recession, but stocks on Wall Street are booming and Australian shares are following suit.