Stock market today: Asian shares gain after US Fed cuts interest rates
Oil prices fell while
Regional investors were watching for much-anticipated steps by
“If Beijing delivers, we might see a powerful rally ripple through the region as investors gear up for a fresh surge in market momentum,”
Shares in Japanese automaker
In
On Thursday, the S&P 500 climbed 0.7% to 5,973.10, adding to its surge from the day before following Donald Trump’s presidential victory. The Dow Jones Industrial Average was virtually unchanged at 43,729.34, while the Nasdaq composite rallied 1.5% to 19,269.46.
The Fed’s announcement that it was easing its main interest rate by a quarter of a percentage point caused few ripples in the market because even the precise size of it was so well anticipated by investors.
The central bank began easing rates in September and indicated more cuts were likely to come, as it focuses more on keeping the job market humming after helping get inflation nearly down to its 2% target. What’s less certain in the minds of investors now is how much Trump’s victory may upset the Fed’s plans.
Trump is pushing for tariffs and other policies that economists say could drive inflation higher, along with the economy’s growth. Traders have already begun paring forecasts for how many cuts to rates the Fed will deliver next year because of that. While lower rates can boost the economy, they can also give inflation more fuel.
For now, Fed Chair
At this point, Powell said it’s still not clear what the policies will be after Trump returns to the
“We don’t guess, we don’t speculate and we don’t assume,” he said.
Smaller
The stock that’s become most synonymous with the president-elect,
The yield on the 10-year
A report on Thursday showed slightly more
In other dealings early Friday,
Brent crude, the international standard, gave up
The dollar rose to
___
AP Business Writer
Stocks soar to record high after Trump win. Which Arizona firms, industries won big?
Asian Markets Extend Rally After Fed Cut
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News