Markets React Positively To Fed Decision

Cheddar News

Markets are screaming their approval of Fed chair, Jerome Powell's 50 basis point interest cut on Wednesday, the Dow and the S&P rising between one and 1.5%.

Transcript

00:00It's quiet here at the New York Stock Exchange, but the markets are screaming their approval

00:05of Fed Chair Jerome Powell's 50 basis point interest cut on Wednesday.

00:09The Dow and the S&P rising between 1 and 1.5 percent, while the Nasdaq surging more than

00:152.5 percent, Tesla, Airbnb up more than 6 percent, Nvidia climbing by 5 percent, Apple

00:23up 3 as tech stocks lead this rally.

00:27The cut was the first in four years and the largest in 16 years.

00:31The Fed's next meeting is in November, just days after the election.

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