Fed's decision, TSMC sales, bitcoin - what's moving markets
Investing.com -- Wall Street is seen edged higher Friday, continuing the post-election rally, helped by the Federal Reserve's decision to cut interest rates. Bitcoin trades just below record levels, while TSMC, the world's chipmaking giant, shows signs of sales growth slowing.eased monetary policy at the conclusion of its latest policy-setting meeting on Thursday, as expected, and signaled the likelihood of further cuts ahead.
This has resulted in traders pricing in another 25-basis-point rate cut next month, while the futures on the federal funds rate also implied another 67 bps of reductions for 2025. Powell was asked on Thursday if he'd exit central bank leadership if asked by Trump, said he would refuse to leave office early, adding he cannot be legally removed anyway.US stock futures edged higher Tuesday, as investors on Wall Street digested the latest interest rate cut by the Federal Reserve, looking to continue the substantial post-election rally.
All three indices are on pace for strong weekly gains, with the S&P 500 and the DJIA higher by around 4%, while the Nasdaq was the outperformer, gaining 5.6% through Thursday’s close.TSMC’s October revenue was T$314.24 billion , up 24.8% from the prior month and up 29.2% from October 2023.TSMC, the world’s biggest contract chipmaker, clocked stellar earnings in the September quarter, as demand from the artificial intelligence sector for its advanced chips remained strong.
The digital currency rallied strongly following Trump’s win, as markets bet that Trump will roll out more crypto-friendly regulations, as promised by his campaign.
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