Stock market today: Most of Wall Street rises after the Fed cuts interest rates
Most U.S. stocks rose as the Federal Reserve cut interest rates again to make things easier for the economy
NEW YORK (AP) — Most U.S. stocks rose Thursday, as the Federal Reserve cut interest rates again to make things easier for the economy.
The S&P 500 climbed 0.7% to add to its surge from the day before following Donald Trump’s presidential victory. The Dow Jones Industrial Average was virtually unchanged and edged down by less than a point, while the Nasdaq composite rallied 1.5%.
The Fed’s announcement that it was easing its main interest rate 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.
