Reported 19 days ago
U.S. stock markets rallied significantly after the Federal Reserve announced a surprise 50 basis point interest rate cut, pushing the Dow Jones Industrial Average above the 42,000 mark for the first time. The S&P 500 and Nasdaq Composite also reached record highs, with gains of approximately 1.9% and 2.8%, respectively. This optimism among investors signals confidence in the Fed's strategy for a 'soft landing' of the economy, leading to increased activity in rate-sensitive tech stocks and positive trends in housing and consumer packaged goods as well.
Source: YAHOO