Markets Hit Record Highs as Fed Announces Rate Cut
TL;DR Summary
U.S. stocks continued their post-election rally, with the S&P 500 and Nasdaq hitting record highs after the Federal Reserve cut interest rates by a quarter point. The Fed's decision aligns with expectations to support economic growth. Notable stock movements included Zillow, Lyft, and AppLovin, which saw significant gains following strong earnings reports. Meanwhile, large-cap tech stocks like Nvidia and Tesla also rose, with Nvidia becoming the world's most valuable company by market cap. The 10-year Treasury yield decreased slightly, and gold and Bitcoin prices increased.
- Dow Jones Today: Major Indexes Trading at Record High Levels Ahead of Fed Interest Rate Decision Investopedia
- S&P 500, Nasdaq close at records and extend postelection rally as Fed cuts rates: Live updates CNBC
- S&P 500, Nasdaq close at records and extend postelection rally as Fed cuts rates NBC News
- Stock Market Today: Dow wavers as Fed delivers 25 basis point rate cut MarketWatch
- Wall Street Reacts to the Fed Decision The Wall Street Journal
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