Fed rate cuts ignite enthusiasm on Wall Street, U.S. stocks reverse wait-and-see sentiment

Odaily Planet Daily News The Federal Reserve announced its first rate cut in 2025 and suggested further rate cuts in the future. Risk preferences permeate Wall Street and U.S. stocks rose sharply. The rise in U.S. stocks on Thursday marked a reversal of traders’ initial reaction to the Fed’s decision last trading day, when Wall Street took profits on overly high tech stocks. Robert Schein, chief investment officer of wealth management company Blanke Schein, said: "The Fed cut interest rates at a time when the stock market hit a record high and the economy is still growing. This is a very unique background because the Fed cut rate is usually related to economic problems. This dynamic is beneficial to the stock market." U.S. cryptocurrency concept stocks rose at the beginning of the session, Bullish rose by more than 10%, and its first quarterly report turned losses into profits after listing, and both performance and guidance exceeded expectations; BMNR rose by more than 10%, Circle rose by more than 5%, and Robinhood rose by more than 3%.