Wall Street Ignites on Buying Wave After Fed’s Major Cut

Wall Street opens positive after inflation data

(Finance) – Positive session for the American list, after the Fed’s decision to proceed with a maxi cut in interest rates. This is the first cut in four years. The president Jerome Powellduring the usual post-meeting press conference, opened up to the possibility of further reducing the cost of money by 0.5% by the end of the year.

On the macroeconomic front, labor market data, which the Fed is keeping a close eye on along with inflation, show a stronger-than-expected decline in new claims for unemployment benefits. Above estimates also themanufacturing activity in the Philadelphia Fed District.

Among US indices, the Dow Jones shows a gain of 1.34%; along the same lines, a leap ofS&P-500which continues the day at 5,706 points. Excellent performance by the Nasdaq 100 (+2.23%); as well as a clear improvement in theS&P 100 (+1.68%), with the return of risk appetite that is driving tech stocks, such as Nvidia, AMD, Meta and Alphabet, up.

tlb-finance