Stocks hold gains after Fed statement

NEW YORK -U.S. stocks were higher on Thursday after the Federal Reserve announced a cut of 25 basis points in interest rates, extending a sharp rally sparked by Donald Trump's return as U.S. president.

Markets had almost fully priced in a 25-basis-point rate cut for the November meeting and will now eye commentary from the central bank for guidance about the path of monetary policy. "Elections have consequences and we could see a marginal improvement in growth relative to their forecasts, but also a marginal increase in inflation relative to their forecasts. That would call for a more gradual pace of rate reductions."

Data earlier on Thursday showed U.S. weekly jobless claims rose marginally last week, suggesting no material change in labor market conditions.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

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