Stock market today: Wall Street joins a global market rally after the Fed’s big rate cut
NEW YORK — Wall Street is roaring toward records as a delayed reaction of jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 1.6% higher in early trading Thursday and above its all-time closing high set in July. The Dow Jones Industrial Average was up 527 points, or 1.3%, and on track to top its record set on Monday. The Nasdaq composite was 2.3% higher.
Thursday’s premarket gains came after investors largely shrugged off the Fed’s half-point rate cut a day earlier. Because the Fed’s first cut to interest rates in four years was so well telegraphed, markets had already risen in anticipation of it.It was the first cut to the federal funds rate since the coronavirus pandemic hit the U.S.
“The time to support the labor market is when it’s strong and not when you begin to see the layoffs,” Fed Chair Jerome Powell said in a press conference Wednesday. “That’s the situation we’re in.”
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Stock market today: Wall Street pulls closer to records after retailers top profit forecastsStock market today: Wall Street pulls closer to records after retailers top profit forecasts
مزید پڑھ »
Wall St Week Ahead US stock rally broadens as investors await FedThe Fed is expected to kick off a rate-cutting cycle at its monetary policy meeting on Sept. 17-18
مزید پڑھ »
Global shares rise, dollar pinned lower by Fed rate cut betsThe repricing by markets in favour of a deeper cut has given a boost to risky assets
مزید پڑھ »
With Fed's rate cut at hand, debate swirls over how big a moveThe Fed's rate decision and new policy statement are scheduled to be released at 1800 GMT
مزید پڑھ »
Huawei seeks to steal spotlight from Apple with launch of $2,800 tri-fold smartphoneHuawei leads global foldable smartphone market with 27.5% share
مزید پڑھ »
Oil prices dip as weak demand offsets supply disruptions from Gulf stormSigns of weakening global demand and expectations of existing oil oversupply weighed on the market
مزید پڑھ »