Fed Rate Cut Sends NASDAQ
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Like stocks and bonds, the U.S. dollar saw some big swings after the Federal Reserve announced a quarter-point rate cut and as Chair Jerome Powell laid out the reasoning around the decision and discussed the path ahead.
World stocks held near record highs, gold retreated and the dollar won a reprieve, ahead of a widely anticipated Federal Reserve rate cut later on Wednesday against a backdrop of concern about the future of central bank independence.
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S&P 500, Nasdaq Futures Rise, Pointing to Catch-Up Rally — Strategist Warns Fed Rate Cut Won’t Spark Fireworks
Futures tied to the S&P 500 and Nasdaq 100 indices rose late Wednesday, signaling that these averages could make good the losses experienced after the Federal Reserve’s rate decision. The Jerome Powell-led Fed cut rates by a quarter-point,
The Dow Jones Industrial Average has shaken off its early weakness, joining the S&P 500 and Nasdaq Composite by setting a fresh intraday record high. The shift comes as major U.S. indexes traded at fresh session highs recently.