It’s shaping up to be a positive Thursday on Wall Street, with risk sentiment remaining robust after the Federal Reserve effectively opened the door to rate cuts in 2024.
Fed delivered what markets wanted: likely no more rate hikes & rate cuts in 2024. Interest rate-sensitive assets outperformed, with small-caps, Treasuries & gold rising, while the dollar dropped.
The 30 largest blue-chip stocks in the Dow Jones Industrial Average surged to unprecedented highs following the Federal Reserve's decision to keep interest rates steady.
The Federal Reserve left interest rates unchanged Wednesday, with Fed Chair Jerome Powell acknowledging the current rate is "likely at or near the peak of this tightening cycle."
LPL Research projects a shallow recession for US economy in 2024, but suggests that equity investments should still be in play.,The Fed's rate-hiking campaign in 2022-2023 has not created as much disruption as expected.,S&P 500 expected to reach 4,900-5,000 by end of 2024..