The US stock futures are seeing a rise, hitting new record highs, following the Federal Reserve's first major rate cut since the COVID-19 crash. The initial reaction in the markets was mixed, with initial gains for stocks fizzling and ultimately tepid moves in Treasuries, corporate bonds, and commodities. However, this reversal to the kneejerk reaction has also since reversed. Gold is heading back toward a record high and copper prices hit the strongest level in two months to lead a broad rally in base metals in what appears to be a gradual awakening of the reflation trade.
In premarket trading, cryptocurrency-linked companies rally as Bitcoin climbs with US equity futures; Coinbase, Riot Platforms, Marathon Digital, and CleanSpark all rose. Other notable premarket movers include DoorDash, Mobileye, and Steelcase.
The Fed cut rates by 50 basis points, a big move designed to preserve the strength of the US economy amid mounting risks to the labor market. Jerome Powell said taking the step now would help to limit
The US stock futures are seeing a rise, hitting new record highs, following the Federal Reserve's first major rate cut since the COVID-19 crash. The initial reaction in the markets was mixed, with initial gains for stocks fizzling and ultimately tepid moves in Treasuries, corporate bonds, and commodities. However, this reversal to the kneejerk reaction has also since reversed. Gold is heading back toward a record high and copper prices hit the strongest level in two months to lead a broad rally in base metals in what appears to be a gradual awakening of the reflation trade.
In premarket trading, cryptocurrency-linked companies rally as Bitcoin climbs with US equity futures; Coinbase, Riot Platforms, Marathon Digital, and CleanSpark all rose. Other notable premarket movers include DoorDash, Mobileye, and Steelcase.
The Fed cut rates by 50 basis points, a big move designed to preserve the strength of the US economy amid mounting risks to the labor market. Jerome Powell said taking the step now would help to limit
