Stock market today: Asian markets forge higher after Fed's first rate cut in over 4 years

📆 19/09/2024 05:47:00
📰 AP

⏱ Reading Time:
44 sec. here
10 min. at publisher
📊 Quality Score:
News: 49%
Publisher: 51%

Financial Markets Nouvelles

Federal Reserve System,General News,A

Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates. Japan's Nikkei 225 index jumped 2.5% and the Japanese yen weakened against the dollar. On Wednesday, the S&P 500 slipped 0.3% but it remains within 1% of its all-time high set in July.

Currency traders work near a screen showing the Korea Composite Stock Price Index , top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 19, 2024. Trader Leon Montana works on the floor of the New York Stock Exchange, Wednesday, Sept. 18, 2024.

“Markets barely reacted to the Fed’s 50 rate cut, on balance, and our base case is that further cuts won’t move the needle too much either,” Thomas Mathews of Capital Economics said in a commentary.Stock market today: Wall Street stays stuck in place as it counts down to a rate cutIt was the first cut to the federal funds rate in over four years, ending a stretch where the Fed kept rates at a two-decade high to slow the U.S. economy enough to stifle the worst inflation in generations.

“The time to support the labor market is when it’s strong and not when you begin to see the layoffs,” Fed Chair Jerome Powell said. “That’s the situation we’re in.” “The focus has now decisively shifted to the labor market, and there’s a sense that the Fed is trying to strike a better balance between jobs and inflation,” Stephen Innes of SPI Asset Management

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

Écrire un Commentaire

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: Asian shares rally, encouraged by Wall Street storming back from an early slideAsian shares are mostly higher, encouraged by gains on Wall Street led by a handful of influential Big Tech companies.
La source: wjxt4 - 🏆 246. / 63 Lire la suite »

Stock market today: Asian shares echo Wall Street rally as investors gauge inflation dataAsian shares are trading mostly higher after a rally on Wall Street that regained some of the losses from the market’s worst week in nearly a year and a half. Benchmarks rose in Tokyo, Sydney, Seoul and Hong Kong in Tuesday morning trading.
La source: AP - 🏆 728. / 51 Lire la suite »