US policymakers’ comments were in the spotlight and sort of supported the market’s bullish aura after the Fed last week began its easing policy with a half-point rate cut.
Global stock indexes rose on Monday (23/09/24) after Federal Reserve officials stated that last week’s 50bps rate cut was appropriate; meanwhile the Euro weakened against the Dollar as business activity data in the Eurozone disappointed.
THE SURPRISING DECISION OF THE CENTRAL BANK ON INTEREST RATES clearly colored the dynamics of
the stock market last week.
Two Fed governors expressed opposing views on the outlook for Inflation, arguing for steps taken by Fed Chairman Jerome Powell
as protection for a resilient economy, rather than as an emergency response to weak jobs data.
Wall Street closed flat on Friday (20/09/24), although still near the previous session’s record closing highs for the DJIA and S&P 500, while the US DOLLAR strengthened as investors digested the Federal Reserve’s midweek 50 basis point interest rate cut that kick-started the rate cut cycle.
US TREASURY yields increased on Thursday (19/09/24), as the start of the first interest rate cut cycle by the Federal Reserve in more than four years boosted investors’ risk appetite.
Wall Street’s major indices hit record highs after global markets recorded gains and US TREASURY yields increased on Thursday (19/09/24), as the start of the first interest rate cut cycle by the Federal Reserve in more than four years boosted investors’ risk appetite.
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As expected, the US DOLLAR strengthened in volatile trading on Wednesday (18/09/24) after the US Federal Reserve opted for the first major cut in the FED FUND RATE in more than four years.
