Central bank policymakers trimmed rates by 50 basis points Wednesday. Stocks initially surged but ultimately closed lower.
A trader works on the trading floor at The New York Stock Exchange following the Federal Reserve rate announcement, in New York City, U.S., September 18, 2024.Traders got some validation that the Fed was engineering a soft landing for the economy on Thursday as weekly jobless claims fell by 12,000 to 219,000, which was far below estimates.
"The challenge of the Federal Reserve is to keep interest rates high enough that they're good for the creditor, while keeping them not so high that they're problematic for the debtor," Dalio told CNBC's "Squawk Box Asia" on Thursday. "As we navigate the delicate balance between energy production and decarbonization, generative AI is emerging as a crucial catalyst for change," SLB CEO Olivier Le Peuch said.it would hold interest rates steady. The decision comes a day after the U.S. Federal Reserve opted for an outsized cut of 50 basis points.Solar stocks were higher Thursday as traders weighed the Fed's decision to cut interest rates by a half percentage point.
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