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US Stocks Eye 7-Day Winning Streak As Mortgage Rates Fall Below 7%, Yields Tumble: What’s Driving Markets Thursday?

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.

ALGN

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With Fed Rate Cuts On The Horizon, Equity Markets Soar, Dollar Weakens, 10-Year Treasury Yield Falls Below 4%

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.

GLD

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S&P 500, Nasdaq Futures Rise On Euphoria Over Fed’s Dovish Pivot: Small Caps Set For Another Cheery Session

The Federal Reserve-induced rally appears set to continue, with the stock futures firmly in the green early Thursday. The small-cap party may have started following the group’s relative underperformance for much of the year.

ADBE