Wall Street Has Best Fed Day of 2024 Across Assets: Market Wrap.

Stocks, bonds, and commodities all reached new highs on Wall Street during the best Federal Reserve day of 2024. The S&P 500 approached 6,000 and hit its 49th record of the year after Jerome Powell's comments on the strong economy. The Federal Reserve cut rates by a quarter percentage point, leading to a positive market response and various corporate highlights in the tech, sportswear, and pharmaceutical sectors. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)