The National on Nostr: Global stocks surge on optimism of Fed rate cut ========== US Federal Reserve ...
Global stocks surge on optimism of Fed rate cut
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US Federal Reserve Chairman Jerome Powell indicated the time has come to cut interest rates during the economic symposium in Jackson Hole, Wyoming on August 24, 2024; Wall Street saw significant gains with the Dow Jones up 1.14% to 41,175, S&P 500 up 1.15% to 5,634, and Nasdaq Composite up 1.47% to 17,877; Powell's comments suggest an imminent policy easing as inflation nears the Fed's 2% target; traders increased bets for a 50 basis point cut in September, with Fed Funds futures pricing a 37% chance; the Fed's inflation metric dropped from 7.1% in 2022 to 2.5%; US Treasury yields fell, the dollar weakened, and gold prices rose to $2,510 an ounce.
#Stocks #FederalReserve #InterestRates #Inflation #JeromePowell #WallStreet #Gold #UsEconomy #MarketTrends #GlobalMarkets
https://www.thenationalnews.com/business/markets/2024/08/24/global-stocks-surge-on-optimism-of-fed-rate-cut/
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US Federal Reserve Chairman Jerome Powell indicated the time has come to cut interest rates during the economic symposium in Jackson Hole, Wyoming on August 24, 2024; Wall Street saw significant gains with the Dow Jones up 1.14% to 41,175, S&P 500 up 1.15% to 5,634, and Nasdaq Composite up 1.47% to 17,877; Powell's comments suggest an imminent policy easing as inflation nears the Fed's 2% target; traders increased bets for a 50 basis point cut in September, with Fed Funds futures pricing a 37% chance; the Fed's inflation metric dropped from 7.1% in 2022 to 2.5%; US Treasury yields fell, the dollar weakened, and gold prices rose to $2,510 an ounce.
#Stocks #FederalReserve #InterestRates #Inflation #JeromePowell #WallStreet #Gold #UsEconomy #MarketTrends #GlobalMarkets
https://www.thenationalnews.com/business/markets/2024/08/24/global-stocks-surge-on-optimism-of-fed-rate-cut/