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Today's market
Sr. Market Strategist
September 19, 2024 at 2:15 p.m. EDT
Investors had some time to digest the news overnight and it has unleashed a risk on trade. Equity market in both Asia and Europe moved sharply higher. The read through has been positive for global growth and there is a belief that with the Fed easing aggressively it also makes it easier for other central banks to ease policy. US futures reversed that late day weakness overnight with the S&P opening at a fresh all-time high right around 5,700. Equities have extended higher since the open with pretty broad participation outside of yield-oriented/defensive sectors.
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