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

The Fed announced its first rate cut in 2025 and suggested further rate cuts in the future, which triggered risk-taking sentiment on Wall Street and drove U.S. stocks to rise sharply. Thursday's rise marked a reversal of traders' initial reaction to the Fed's resolution the day before, when traders profited on top performing tech stocks. "The Fed cut rate at a time when the stock market is at an all-time high and the economy is still growing is a very special background because the Fed cut is usually related to economic problems. This dynamic is good for the stock market." U.S. cryptocurrency stocks rose in the early trading, with Bullish soaring more than 10% after its first quarterly report since its listing, returning to profitability and exceeding earnings and guidance expectations. BMNR rose more than 10%, Circle rose more than 5%, and Robinhood rose more than 3%.