Fed Cuts Interest Rates, But Powell Spoils Santa Claus Rally; Dollar Surges To Over 2-Year High, Bitcoin Sinks Below $100,000: This Week In The Market

Benzinga12-21 05:11

In a December meeting that will be remembered for its seismic impact on markets, the Federal Reserve delivered a widely anticipated 25-basis-point interest rate cut Wednesday, bringing the target ...

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(USD) INC","BK4566":"资本集团","VOO":"Vanguard标普500ETF","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","BK4559":"巴菲特持仓","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","BK4543":"AI","LU0130518102.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"R\" INC","BK4588":"碎股","SPXU":"三倍做空标普500ETF","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","BK4574":"无人驾驶","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","GM":"通用汽车","OEX":"标普100","BK4547":"WSB热门概念","BK4561":"索罗斯持仓","SPY":"标普500ETF",".SPX":"S&P 500 Index","BK4504":"桥水持仓","LU0477156797.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"RE\" (USD) ACC","BK4096":"电气部件与设备","BK4596":"哈里斯概念","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4581":"高盛持仓","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","LU0130103400.USD":"Natixis Harris Associates 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target range to 4.25%-4.5%.\nYet, it wasn't the rate cut itself that shocked Wall Street: it was the Fed’s revised economic forecasts and Chair Jerome Powell's stance that crushed expectations for deeper rate cuts in 2025.\nIn its December economic forecasts, the Fed raised inflation projections for 2025, signaling that only two rate cuts might be on the table for the year. This marked a dramatic shift from the expectations that had fueled investor optimism in recent weeks.\nPowell cemented this hawkish tone during the press conference, stating that after a 100-basis-point reduction in 2024, the Fed would enter a “new phase” of monetary policy. With rates nearing neutral levels, Powell emphasized the importance of a cautious approach, erasing any lingering hopes for aggressive easing.\nIn true Grinch fashion, Powell's message drained investor hopes for a Santa Claus Rally, a seasonal market trend that sees equities showing strong gains in the second half of December.\nThe S&P 500 — as tracked by the SPDR S&P 500 ETF Trust SPY — tumbled 3%, recording its worst single-day drop since September 2022, while the U.S. Dollar Index surged to a two-year high as investors recalibrated their expectations.\nBitcoin BTC/USD demonstrated significant sensitivity to macroeconomic developments, dropping below $100,000 after reaching a record high of $108,388 one day prior to the Federal Reserve meeting.\nFriday brought a brief reprieve as the Fed's preferred inflation gauge for November came in lower than expected. Yet the Fed's sting has left lingering wounds that only sustained progress in disinflation can heal.\nThe focus now shifts to 2025. Investors are bracing for the fiscal policies of the incoming Trump administration, the potential for a government shutdown and the broader implications of Fed monetary policy.\nChargePoint-GM Collaboration\nChargePoint Holdings Inc. CHPT and General Motors Co. GM partnered to deploy ultra-fast EV charging ports at key locations across the U.S. This strategic move aims to enhance electric vehicle infrastructure and accelerate EV adoption nationwide.\nPalantir Defies Gravity\nPalantir Technologies Inc. PLTR’s stock surged Friday after securing a key U.S. Army deal and joining the Nasdaq-100 index. The stock's year-to-date gains now top 340%.\nRead Now: \n\nEXCLUSIVE: Weight-Loss Market Experts Scoop Up Novo Nordisk Stock After Worst Drop Since 2002 Following Drug Trial Miss\n\nPhoto: Shutterstock $BTCBitcoin$95791.02-1.62%WatchlistOverviewCHPTChargePoint Holdings Inc$1.248.77%GMGeneral Motors Co$51.802.89%PLTRPalantir Technologies Inc$80.067.88%SPYSPDR S&P 500$590.081.02%Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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