Wall Street went all in on stocks and bonds this week after Jerome Powell the Federal Reserve affirmed it’s ready to shift to rate cuts.
The US central bank left its benchmark rate unchanged as policymakers pivoted away from further rate hikes, instead penciling in three rate cuts for next year. The Nasdaq 100 closed at an all-time high — it last traded at a record price two years ago. The S&P 500 and the tech-heavy gauge both notched seven-week winning streaks on the back of the Fed’s about-face.
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