Wall Street soars to record highs in a global market rally after Fed's interest rate cut
==========
Wall Street reached record highs on Sep 19, 2024, following the Federal Reserve's first interest rate cut in over four years. The S&P 500 rose 1.7%, surpassing its previous all-time high from July. The Dow Jones Industrial Average increased by 522 points (1.3%), and the Nasdaq composite surged 2.5%. Darden Restaurants led the S&P 500 with an 8.3% increase, while Nvidia rose 4%. The Fed's decision to cut rates was influenced by decreasing inflation and aims to maintain job market stability. Analysts predict further cuts, with expectations of a half-point reduction in 2024 and a full point in 2025. The current federal funds rate is between 4.75% and 5%. Global markets also rallied, with significant gains in Europe and Asia. Bitcoin rose above $63,000, reflecting the impact of lower interest rates on investment prices.
#WallStreet #FederalReserve #InterestRates #S&p500 #DowJones #Nasdaq #GlobalMarkets #Inflation #Bitcoin #DardenRestaurants
https://www.pbs.org/newshour/economy/wall-street-soars-to-record-highs-in-a-global-market-rally-after-feds-interest-rate-cut
PBS NewsHour /
npub1a7…7d7sy
2024-09-19 21:36:50
Author Public Key
npub1a760r44jgd7lsm2ktqejny3uxpfstxmg3hh3kr9rvwd609gpwd8s77d7sySeen on
wss://relay.damus.ioPublished at
2024-09-19 21:36:50Event JSON
{
"id": "a3b53179a29ff8acbded8733af5192d3f540478fd25a31bf3f2732be1afd119d",
"pubkey": "efb4f1d6b2437df86d56583329923c3053059b688def1b0ca3639ba79501734f",
"created_at": 1726781810,
"kind": 1,
"tags": [],
"content": "Wall Street soars to record highs in a global market rally after Fed's interest rate cut\n==========\n\nWall Street reached record highs on Sep 19, 2024, following the Federal Reserve's first interest rate cut in over four years. The S\u0026P 500 rose 1.7%, surpassing its previous all-time high from July. The Dow Jones Industrial Average increased by 522 points (1.3%), and the Nasdaq composite surged 2.5%. Darden Restaurants led the S\u0026P 500 with an 8.3% increase, while Nvidia rose 4%. The Fed's decision to cut rates was influenced by decreasing inflation and aims to maintain job market stability. Analysts predict further cuts, with expectations of a half-point reduction in 2024 and a full point in 2025. The current federal funds rate is between 4.75% and 5%. Global markets also rallied, with significant gains in Europe and Asia. Bitcoin rose above $63,000, reflecting the impact of lower interest rates on investment prices.\n\n#WallStreet #FederalReserve #InterestRates #S\u0026p500 #DowJones #Nasdaq #GlobalMarkets #Inflation #Bitcoin #DardenRestaurants\n\nhttps://www.pbs.org/newshour/economy/wall-street-soars-to-record-highs-in-a-global-market-rally-after-feds-interest-rate-cut",
"sig": "fa86a2accc631f3079922068cd5c845b02d7851bb0f445bf4c921651940f1cd7aa45e66105b86325cc76e238bb326cc8b7ac101531b4566f1e1367671165d28a"
}