{"id":35789,"date":"2024-09-20T23:07:07","date_gmt":"2024-09-20T23:07:07","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue"},"modified":"2024-09-20T23:32:47","modified_gmt":"2024-09-20T23:32:47","slug":"global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue","title":{"rendered":"Global markets rally after Fed’s 50-basis-point rate cut, positive trends continue"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Global markets are showing positive momentum following the US Federal Reserve\u2019s 50-basis-point rate cut on Wednesday, its first in four years.<\/p>\n

The Fed signaled another 50-basis-point cut by year\u2019s end, contributing to optimism among investors who are closely watching the US economy as signs of avoiding a recession are feeding the risk appetite.<\/p>\n

US jobless claims fell below expectations to 219,000 last week, while the current account deficit rose 10.7% to $266.8 billion in the second quarter.<\/p>\n

The markets were further boosted by a surge in tech stocks, with Nvidia and AMD climbing 3.9% and 5.7%, respectively, and gains in Apple (+3.7%), Meta (+3.9%), Microsoft (+1.8%), and Alphabet (+1.5%).<\/p>\n

US 10-Year Treasury yields stood at 3.71%, while the US Dollar Index Futures balanced at 100.4 on Friday.<\/p>\n

Brent crude oil rose 2.4% on Thursday to $74 a barrel before sliding 0.2% on Friday.<\/p>\n

Gold, which closed at $2,587 an ounce, rose 0.3% to $2,594 on Friday.<\/p>\n

While US index futures opened on a negative note, Thursday saw the Dow Jones rise 1.26%, the S&P 500 climb 1.70%, and the Nasdaq jump 2.51%.<\/p>\n

European stocks see gains amid rate stability<\/b><\/p>\n

In Europe, a buying trend was noted after the Bank of England (BoE) kept its policy rate unchanged at 5%, in line with expectations.<\/p>\n

BoE Governor Andrew Bailey signaled that lower inflationary pressures could allow gradual rate cuts but cautioned against moving too fast to achieve the 2% inflation target while ensuring sustainable growth.<\/p>\n

\u201cIt\u2019s vital that inflation stays low, so we need to be careful not to cut too fast or by too much,\u201d said Bailey.<\/p>\n

Germany\u2019s DAX 40 hit a record high on Thursday, closing at 19,002.38 points, up 1.55%. The CAC 40 gained 2.29%, the FTSE 100 rose 0.91%, and the FTSE MIB climbed 1.16% while European index futures contracts started Friday on a negative course.<\/p>\n

Analysts believe the Fed\u2019s easing could create a more favorable environment for the European Central Bank and BoE to consider loosening monetary policies by year\u2019s end.<\/p>\n

Positive trend in Asia, except China<\/b><\/p>\n

Asian markets followed a positive trajectory, except for China, after the Bank of Japan left its interest rate unchanged at 0.25%, in line with its continued economic recovery and easing inflation pressures.<\/p>\n

Japan\u2019s Consumer Price Index (CPI) rose 3% year-on-year in August, while core CPI increased 2.8%. The US dollar\/Japanese yen parity closed Thursday at 142.6, and it is trading at 142.2 on Friday, down 0.3%.<\/p>\n

China surprised markets by keeping its benchmark lending rates steady, with the 1-year LPR at 3.35% and the 5-year rate at 3.85%.<\/p>\n

In contrast, Hong Kong cut its benchmark rate in line with the Fed. Near Thursday\u2019s close, Japan\u2019s Nikkei 225 rose 1.8%, Hong Kong\u2019s Hang Seng Index was up 1%, and South Korea\u2019s Kospi Index increased 0.9%. China\u2019s Shanghai Composite Index fell 0.5%.<\/p>\n

Turkish markets follow buying trend<\/b><\/p>\n

In Tu\u0308rkiye, the BIST 100 ended Thursday up 2.06% at 9,975.61 points. The Turkish Central Bank held its one-week repo auction rate steady at 50%, citing low core goods inflation, but expected services inflation to improve by the final quarter.<\/p>\n

Tu\u0308rkiye\u2019s 5-year credit default swap (CDS) fell to its lowest level since February 2020 at 254.2 basis points. The U.S. dollar\/Turkish lira exchange rate was 34.0303 on Thursday, down 0.1%, before rising 0.2% on Friday to 34.0820.<\/p>\n

For More News And Analysis About Eritrea Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. Global markets are showing positive momentum following the US Federal Reserve\u2019s 50-basis-point rate cut on Wednesday, its first in four years. The Fed signaled another 50-basis-point cut by year\u2019s end, contributing to optimism among investors who are closely watching the US economy as signs of avoiding a recession are feeding the risk […]<\/p>\n","protected":false},"author":84,"featured_media":35788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,1290,1291],"class_list":["post-35789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-eritrea","tag-fed","tag-global-markets"],"yoast_head":"\nGlobal markets rally after Fed's 50-basis-point rate cut, positive trends continue - Eritrea<\/title>\n<meta name=\"description\" content=\"Global markets are showing positive momentum following the US Federal Reserve\u2019s 50-basis-point rate cut on Wednesday, it ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global markets rally after Fed's 50-basis-point rate cut, positive trends continue\" \/>\n<meta property=\"og:description\" content=\"Global markets are showing positive momentum following the US Federal Reserve\u2019s 50-basis-point rate cut on Wednesday, it ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-20T23:07:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-20T23:32:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/09\/sm_1726858768.787364.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Global markets rally after Fed’s 50-basis-point rate cut, positive trends continue\",\"datePublished\":\"2024-09-20T23:07:07+00:00\",\"dateModified\":\"2024-09-20T23:32:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue\"},\"wordCount\":542,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/09\/sm_1726858768.787364.jpg\",\"keywords\":[\"Eritrea\",\"FED\",\"Global markets\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/global-markets-rally-after-feds-50-basis-point-rate-cut-positive-trends-continue\",\"name\":\"Global markets rally after Fed's 50-basis-point rate cut, positive trends continue - 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