I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring in steven schoenfeld, ceo of financial Data Provider marketvectors here in New York. We see equities rallying today.
Thanks for joining us. The news continues now here on cnn and the fed makes a Jumbo Rate Cuts what it means for you and the global economy are now just 47 days away from the us president ial election. You polling is giving us greater insight into which way voters or leaning in three critical battleground states, according to a set of postdebate Quinnipiac University polls democratic president ial nominee Kamala Harris is leading her republican rival, Donald Trump, among likely voters in Pennsylvania And Michigan her Onepoint Lead in wisconsin is within the margin of error on wednesday, both nominees sort to get their messages out. Harris was In Washington where she slammed trumps Immigration Proposals or trump criticized his democratic rival at a Campaign Rally in New York its time to stop the lives, stopped the hoaxes, stop the smears, stopped the lawfare, the fake lawsuits against me, add stopped claiming your opponents will turn america into a dictatorship. Give me a break. Because
Our north america business correspondent ritika gupta has the details. The 0. 5 percentage cut brings its key interest rate, the federal funds rate down to between 4. 75 and 5%. It comes amid signs of inflation in america is continuing to fall while thejob market america is continuing to fall while the job market remains strong even as unemployment has risen this year. The strong even as unemployment has risen this year. risen this year. The labour market is risen this year. The labour market is actually risen this year. The labour market is actually in risen this year. The labour market is actually in solid| market is actually in solid condition and our intentions with condition and our intentions with our condition and our intentions with our policy move today is to keep with our policy move today is to keep it with our policy move today is to keep it there. You can say that to keep it there. You can say that about to keep it there. You can say that about the whole econo
Delivered a supersized cut aimed at bolstering the us market. The first in over four years brings its key interest rate, the federal funds rate, its key interest rate, the federalfunds rate, down to between 4. 75 and 5 . It comes amid signs that inflation in america is continuing to fall while Thejob Market America is continuing to fall while the Job Market remains strong as unemployment has risen this year. Risen this year. The Labour Market is risen this year. The Labour Market is actually risen this year. The Labour Market is actually in risen this year. The Labour Market is actually in solid| market is actually in solid condition, and our intention with condition, and our intention with our condition, and our intention with our Policy Move to is to keep with our Policy Move to is to keep it with our Policy Move to is to keep it there. You can say that about keep it there. You can say that about the keep it there. You can say that about the whole economy. The us economy about the wh
For the tech sector. Ai Chip Giant nvidia has been surging on reports that the us government is considering allowing it to export advanced semiconductors to Saudi Arabia itjumped some 8 in Wednesdays Session pulling up the rest of big tech. Melissa 0tto is from S P global visible alpha where she heads up their technology research team. Just had us Producer Price Index data a little hotter than expected. That coupled with a little hotter consumer Price Index data yesterday. Does it change anything for when the fed meets next week . Are markets too optimistic about the pace of further Rate Cuts . Thank you, great to connect with you today. 0verall, thank you, great to connect with you today. Overall, the economic data that we saw Yesterday And Today was broadly in line with expectations. Based on S And P intelligence submitted for the September Rate cut of 25 basiS Points, what we have been seeing and driving some of the volatility in the market is there was some rhetoric over the past f