U.S. Stock Futures Stabilize After Record Highs on Wall Street
U.S. stock index futures stabilized on Thursday evening following another day of record highs on Wall Street, as markets digested the Federal Reserve's outlook on future rate cuts.
Market Reactions to Trump’s 2024 Victory and Fed’s Rate Cut
Wall Street continued to surge after Donald Trump’s win in the 2024 presidential election, which could bring expansionary policies in the coming years. Positive earnings reports, along with a drop in the dollar and Treasury yields, contributed to the upbeat market sentiment.
By 18:20 ET (23:20 GMT), S&P 500 Futures held steady at 6,006 points, while Nasdaq 100 Futures dipped slightly to 21,216.25 points. Dow Jones Futures remained flat at 43,933 points.
Federal Reserve Cuts Rates and Signals Cautious Outlook
The Federal Reserve cut its benchmark interest rate by 25 basis points to a range of 4.5% to 4.75%, aligning with expectations. Despite this, Fed Chair Jerome Powell stated that the results of the presidential election would not impact near-term monetary policy. Powell emphasized a data-driven approach to any future rate cuts, highlighting that inflation was cooling, while economic growth remained strong.
Markets are pricing in a 76.1% chance of another 25-basis-point rate cut in December, with a 23.9% chance of rates staying unchanged, according to CME Fedwatch.
Wall Street Continues to Rally Post-Trump Victory
The S&P 500 rose 0.7% to a record 5,973.10 points, while the NASDAQ Composite gained 1.5% to a new high of 19,269.36 points. The Dow Jones Industrial Average remained flat at 43,729.34 points but stayed close to its record high.
Trump’s election victory, alongside a potential Republican sweep of Congress, suggests fewer obstacles to major policy reforms, with expectations of looser fiscal policies and a strengthened dollar.


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