The US markets rebounded on Wednesday to close higher as Fed Chair Jerome Powell signalled an interest rate hike of a quarter of a percentage point instead of a half of a percentage point as investors had initially feared, to tackle the rising cost of living in the US. In tech news, online personal finance company SoFi rallied on Wednesday after reporting strong fourth-quarter results including a smaller loss per share than expected and an 87% increase in members over the 2021 financial year. A spotlight on Nordstrom as the US-based luxury department store chain rocketed 38% yesterday after reporting better-than-expected results for the fourth-quarter including a 23% increase in sales to 4.4 billion US dollars and an earnings per share of 1 US dollar and 10 cents per share, compared to a 4 US dollar and 39 cents per share loss for the same period a year earlier. Airline manufacturer Boeing has joined the growing list of multinational companies halting services and sales to Russia, announcing the suspension of parts, maintenance and support for Russian airlines, as the country continues its war with Ukraine.
VIDEO: Nordstrom rocketed 38% on better-than-expected fourth-quarter results
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