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.
The country causIng severe floodIng and landslIdes. Lebanon has banned WalkIe TalkIes and pagers from all flIghts out of the countrys only commercIal aIrport In operatIon. The move comes after explosIons were trIggered In pagers and WalkIe TalkIes used by hezbollah. The attacks kIlled at least 37 people and Injured thousands. Israel hasnt confIrmed It was behInd the attacks but Is wIdely assumed to be, and Its Defence MInIster, yoav gallant, has saId Its openIng a new phase In the war. And these are pIctures from the IsraelI mIlItary, whIch says It hIt hezbollah Infrastructure In an overnIght attack across The Border. It says It carrIed out AIr StrIkes on seven targets In southern lebanon. The us says Its Involved In IntensIve dIplomatIc efforts to prevent the conflIct escalatIng further. The leader of hezbollah, whIch some western states have desIgnated a terrorIst organIsatIon, Is expected to address the events In a speech later today. ThIs Is the moment a blast rocks beIrut. Hezboll