Investors have been anxious to hear who President Donald Trump will pick as the nominee. A decision like Powell would likely be a continuation of the current stock market-friendly monetary policy that has helped fuel the market's more than eight-year bull run.
Concerns over potential delays to President Donald Trump's pro-growth policies unnerved investors again, leading to heavy losses in the US and European share indices.
After breaking a streak of 12 straight record-setting sessions, the Dow resumed its upward climb and pierced the 21,000 mark for the first time on Wednesday.
US stocks opened at record-highs on Tuesday as oil prices rose and investors cheered strong results of top U.S. retailers.
"From the little we know, and I will insist on the little we know, because this is really work in progress... but from the little we hear, we have reasons to be optimistic about economic growth in the United States," Lagarde said at the annual World Government Summit in Dubai.
Dow, Nasdaq closed higher, dollar posted gains on Tuesday
Indian benchmark indices are likely to open up following strong global cues. The SGX Nifty at the time of writing this story was up over 4 points at 8110.
The Fed's decision to raise rates comes as President-elect Donald Trump, who will be sworn in next month, is seen cutting taxes and increasing spending on infrastructure.
At the same time, bonds sold off, with Treasury yields rising toward the high end of their recent range. The 10-year was at 2.47 percent in late trading Friday and the 20-year was at 1.12 percent.
The S&P 500 energy index rose 3.65 percent as oil prices were on track for their best day since February.
Things have changed fast. Indian equity markets are reeling under the effect of demonetisation and question marks swirl around its impact on the economy. Meanwhile the Dow and S&P are within touching distance of all-time highs and the Nasdaq has hit a peak.
The crucial three-day meeting of the all-powerful GST council is slated to begin today. Issues like the GST rate and state compensation formula will be in focus.
Nifty is the strongest and the most stable of all global charts and is a good investment opportunity from the long-term perspective, said Daryl Guppy, CEO, guppytraders.com.
Executives from companies including the local businesses of Monsanto, Bayer, Dow, Dupont Pioneer and Syngenta announced the alliance in a crowded Press Club of India conference room.
Dow, S&P 500 close at fresh-record high, as JPMorgan buoys financials
The Fed kept short-term interest rates unchanged on Wednesday but said it continued to expect two rate hikes this year. However, the consensus seemed shakier with six of the 17 policymakers projecting just one hike.
Teresa Barger of Cartica Capital says these are extremely nervous times for global markets which are waiting for outcomes firstly from the US Fed meet, then June 23 Brexit decision.
While markets in China, Hong Kong and Taiwan are shut on account of public holiday, rest of the Asia was mixed in early trade.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS nudged up 0.2 percent, putting further distance between a four-year low plumbed last week. Australian shares were up 1 percent.
The S&P 500 is just barely positive for the year, up just 0.1 percent since Jan. 1. It pulled back slightly Thursday, after a surge that drove it up 2.8 percent to 2,060 in the short trading week.
In early morning trade, Asian stocks marched higher on Friday, following a positive lead from Wall Street on Thursday night, fueled by dovish signals from the US Federal Reserve minutes
Globally, the markets are mixed with the US markets ending mixed as the market stabilised after a steep sell-off. The Dow and S&P closed higher while the Nasdaq closed lower.
Market consensus feels India not immune to emerging market sell-off. According to Aakash Praksh of Amansa Capital India will do very well over next 3-5 years but adds that in the short-term if EMs get outflows, India will get sold.
Asian shares, meanwhile, opened mixed on Wednesday morning with Mainland shares leading losses, tracking offshore losses driven by persisting concerns over the health of China's economy.
China's stock markets joined the widespread selloff on Monday amid fears surrounding the economic slowdown in the world's second-biggest economy.