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on september 19, eastern time, the day after the federal reserve cut interest rates by 50 basis points, u.s. stocks were in a frenzy, with the dow jones industrial average breaking through the 42,000 point mark for the first time and setting a record closing high together with the s&p.

large technology stocks all rose, with tesla up more than 7%, hitting a closing high in more than two months; nvidia rose nearly 4% and apple rose more than 3%.

chinese assets exploded! the nasdaq golden dragon china index surged by more than 4%.

the day after the fed cut rates

us stock carnival

on september 19, eastern time, the day after the federal reserve cut interest rates by 50 basis points, the three major u.s. stock indexes rose across the board. as of the close, the dow jones industrial average rose 522.09 points, or 1.26%, to 42,025.19 points, closing above 42,000 points for the first time; the nasdaq rose 440.68 points, or 2.51%, to 18,013.98 points; and the s&p 500 rose 95.38 points, or 1.70%, to 5,713.64 points, setting a new closing high.

salman ahmed, head of global macro and strategic asset allocation at fidelity international, said that the fed's rate cut seems to be preemptive, and the accompanying dot plot and comments at the press conference emphasize that the fed will be more cautious in the pace and magnitude of its easing policy in the future. in short, the 50 basis point rate cut is slightly hawkish. but there is no doubt that dovishness is the main theme of the fomc. any further weakness in the labor market will lead to a larger and faster rate cut, and the market is now aware of this. ahmed's team still believes that a soft landing is still a very likely scenario this year.

according to wind hong kong news agency, citi expects the federal reserve to cut interest rates by 25 basis points in december, compared with its previous forecast of a 50 basis point cut, and maintains its forecast of a 125 basis point cut in 2024.

bank of america global research believes that the federal reserve will cut interest rates by 75 basis points in the fourth quarter of 2024 and 125 basis points in 2025, bringing the terminal interest rate to 2.75%~3%.

jpmorgan chase & co., which correctly predicted a 50 basis point rate cut by the federal reserve this week, said another big rate cut depends on whether the u.s. labor market weakens. michael feroli, chief u.s. economist at jpmorgan chase & co., thinks the fed will cut rates by another 50 basis points in november, but said his view depends on the outcome of the upcoming jobs report.

big tech stocks all rose

on september 19, eastern time, large technology stocks all rose, with tesla rising more than 7%, hitting a closing high in more than two months; nvidia rose nearly 4%, meta and apple rose more than 3%, netflix rose more than 2%, intel, microsoft, google, and amazon rose more than 1%.

according to wind, the first version of apple's self-developed 5g modem (also known as baseband) does not support millimeter wave technology. apple may continue to rely on its existing 5g chip supplier qualcomm to provide 5g chips for iphone models that support millimeter waves (including all iphone 12 models and newer models in the united states).

amazon has launched amelia, an artificial intelligence (ai) assistant for third-party sellers, which can quickly handle issues such as accounts, sales, and inventory data.

the european union will warn apple that it must open its iphone operating system to competing technologies or face a huge fine. regulators will announce under the bloc's new digital markets directive that the cupertino, california-based company must comply with strict new rules to make the operating system fully compatible with other technologies, people familiar with the matter said.

chinese assets explode!

on september 19, eastern time, chinese assets exploded! the nasdaq golden dragon china index rose by more than 4%, a brilliant performance.

in terms of hot stocks, miniso rose more than 10%, xpeng motors rose more than 8%, nio rose more than 7%, jd.com and bilibili rose more than 6%, tencent music, alibaba and vipshop rose more than 4%.