Market Madness: Stocks Soar to New Heights on Fed's Shocking Announcement!

Market Madness: Stocks Soar to New Heights on Fed's Shocking Announcement!

Global markets mostly rose on Thursday following a record-breaking surge in U.S. stocks. 

The Federal Reserve's announcement of expected interest rate cuts later this year boosted investor confidence.

In Europe, France's CAC 40 climbed 0.5% to 8,199.57, Germany's DAX rose 0.8% to 18,159.77, and Britain's FTSE 100 surged nearly 1.2% to 7,829.19. U.S. futures indicated a positive opening, with Dow futures up 0.4% at 40,081.00 and S&P 500 futures rising 0.4% to 5,309.50.

In Asia, Japan’s Nikkei 225 jumped 2.0% to a record high of 40,815.66, supported by a rise in exports. 

Hong Kong’s benchmark surged 1.9% to 16,863.10, while the Shanghai Composite fell slightly to 3,077.11 after China announced measures to support its economy.

Australia's S&P/ASX 200 added 1.1% to 7,782.00, and South Korea's Kospi gained 2.4% to 2,754.86.

On Wednesday, the S&P 500 reached a new high of 5,224.62, with the Dow up 1% and the Nasdaq up 1.3%. 

The Fed's survey showed plans for three interest rate cuts in 2024, unchanged from previous projections, aimed at curbing inflation.

In commodity markets, U.S. crude rose to $81.67 a barrel, and Brent crude added to $86.36 a barrel. The U.S. dollar strengthened against the Japanese yen, trading at 151.34 yen, while the euro fell to $1.0892.

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