Reported 19 days ago
The U.S. stock market experienced a significant rally on Thursday, with the Dow Jones Industrial Average rising nearly 500 points following the Federal Reserve's surprising 50 basis point interest rate cut. Investors showed renewed confidence in the economy, interpreting the Fed's action as a move towards a 'soft landing' despite ongoing concerns about inflation and jobs. Tech stocks led the gains, with firms like Apple and Microsoft seeing substantial increases, as optimism grew around the prospects for growth following the Fed's announcement.
Source: YAHOO