US Stocks Skyrocket as Rate Cut Hopes Ignite: Potential Impact on Bitcoin (BTC) and Crypto Market
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- US stocks experienced a surge on Monday, with hopes of the US Federal Reserve cutting interest rates this year following last week’s softer-than-expected jobs data.
- The US Fed left interest rates unchanged last week, indicating a lean towards eventual cuts in borrowing costs.
- At 09:41 a.m. ET, the Dow Jones Industrial Average rose 146.36 points, or 0.38 per cent, to 38,822.38, the S&P 500 gained 26.70 points, or 0.52 per cent, to 5,154.49 and the Nasdaq Composite gained 85.00 points, or 0.53 per cent, to 16,241.33.
US stocks surge on the back of hopes for a Federal Reserve rate cut, with the Dow Jones, S&P 500, and Nasdaq all experiencing gains.
Stock Market Performance
At the opening bell, the Dow Jones Industrial Average rose 86.8 points, or 0.22 per cent, to 38762.43. The S&P 500 added 14.6 points, or 0.29 per cent, to 5142.42, while the Nasdaq Composite gained 52.2 points, or 0.32 per cent, to 16208.537. Several stocks saw significant movement, including Freshpet which jumped 9 per cent after re... Read the full article for FREE at COINOTAG!
