Wall Street rallies as Fed pivot sinks in
Major indexes rally, Nasdaq up >2%
Tech leads S&P sector gainers; utilities weakest group
Euro STOXX 600 index up ~1.4%
Dollar ~flat; gold up; crude up ~1%; bitcoin up >4%
U.S. 10-Year Treasury yield rises to ~3.74%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
WALL STREET RALLIES AS FED PIVOT SINKS IN
U.S. stocks burst out of the starting gate on Thursday with robust gains after investors slept on the Federal Reserve's supersized 50 basis point rate cut and decided it was grand.
While the three major indexes whipsawed to a slightly lower close on Wednesday, after the Fed issued a 50 basis point reduction to its key policy rate - its first cut since the COVID panic - Thursday has begun with a solid rally.
The three indexes are sharply higher, with tech .SPLRCT pushing the Nasdaq .IXIC to the front of the pack.
The S&P 500 .SPX and the Dow .DJI, if they can sustain their euphoria, appear to be on track to set record closing highs.
Every constituent in the "magnificent seven" group of megacap growth stocks is up more than 1%, with AI darling Nvidia NVDA.O out front, jumping more than 4%.
In the Fed's accompanying statement, and throughout Chairman Powell's subsequent Q&A session, the rate cut rationale was in part attributed to the risks of maintaining a restrictive policy stance amid signs of economic softening.
But going by Thursday's indicators, "softening" isn't exactly the adjective to pop into one's mind.
There were fewer-than-expected initial claims for unemployment benefits and the Philly Fed manufacturing index unexpectedly bounded back to expansion territory.
August existing home sales data is expected shortly.
Here's where things stood as of 09:41 EDT:
(Stephen Culp)
*****
FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:
JEFFERIES SAYS BANKING INDUSTRY'S INTEREST INCOME IN JEOPARDY, BUT DEPOSITS COULD BE CHEAPER - CLICK HERE
NASDAQ COMPOSITE: LAND OF CONFUSION - CLICK HERE
CENBANK DIVERGENCES ENDING, APART FROM JAPAN - AMUNDI - CLICK HERE
R&D PICKS IN EUROPE - CLICK HERE
MINERS DO HEAVY LIFTING AS STOXX RISES AHEAD OF BOE - CLICK HERE
STOXX EYES JUBILANT START AFTER FED'S BUMPER CUT - CLICK HERE
UK INFLATION TO KEEP BOE ON CAUTIOUS PATH - CLICK HERE
Opening snapshot https://reut.rs/3XMcb7E
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
