Indexes rallied Thursday as investors continue to digest Wednesday's jumbo rate cut from the Fed.
The Fed cut rates by 50 basis points in its first rate cut in over four years.
AdvertisementUS stocks soared on Thursday in a late reaction to the Federal Reserve's jumbo interest rate cut.
On Wednesday, the Fed issued its first interest rate cut since 2020, cutting its benchmark rate by 50 basis points.
Bank of America analysts said after the meeting that they see 75 basis points of cuts in the fourth quarter and 125 basis points next year.
Persons:
—, Jerome Powell's, Dow, today's 50bp, Goldman Sachs, Powell, Gen Z's
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Fed, Service, Federal, Nasdaq, Bank of America, Labor Department, SEC