50-basis point interest rate cut supported by FOMC, driving stock markets to record highs.
Minutes from the Federal Open Market Committee reveal a strong consensus for a 50-basis point interest rate cut, driving stock markets to record highs despite geopolitical tensions and rising oil prices. The Fed aims to maintain a robust labor market while monitoring economic conditions. Analysts caution that the markets may be vulnerable to corrections, particularly as Treasury yields rise. Technology stocks significantly contributed to recent gains in major indices.
October 10, 2024
284 Articles