Federal Reserve Chair Jerome Powell signals possible rate cuts in 2024, sending real estate stocks soaring to outperform all other sectors in the S&P 500.
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 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.
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."
Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has