Stocks jump after Powell signals Fed will stay tough on inflation, Dow snaps 5-day slide 
Stocks rallied on Wednesday after the Federal Reserve hiked rates by 75 basis points — its largest increase since 1994 — and signaled it could raise rates by a similar magnitude in July, giving investors confidence the central bank was committed to tamping down inflation. 
The Dow Jones Industrial Average snapped a five-day losing streak, jumping 303.70 points, or 1%, to close at 30,668.53. The S&P 500 rose 1.46% to 3,789.99 while, the Nasdaq Composite gained 2.5% to end the day at 11,099.15. 
Along with the rate hike, Fed officials slashed their GDP outlook for 2022 to a 1.7% gain from the 2.8% projection back in March. Inflation projections also rose to 5.2% this year from 4.3%, but the committee expects that to tick lower in 2023. 
Boeing and other shares closely linked to economic growth jumped higher on the hope that rates could rise without tipping the economy into a recession. Boeing surged 9.5%. Regional banks and financials also gained. 

The pan-European Stoxx 600 provisionally closed up by 1.5%, with travel and leisure stocks adding 3.4% to lead gains as almost all sectors and major bourses entered positive territory. 
The strong momentum for regional markets on Wednesday came after several negative trading sessions in Europe, Asia and the U.S. 
n terms of individual share price movement in Europe, Swiss software company Temenos climbed 7.9% toward the top of the Stoxx 600 after winning a digital transformation contract with a U.S. banking group. 
At the bottom of the index, Swedish health care company Getinge plunged more than 17% after revising down its 2022 outlook. 
Source: CNBC, Investing.com