Options Spy | Bank stocks rebounded sharply after the FOMC hinted at a rate cut
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The Fed pigeon triggered panic buying, US Treasury prices continued to rise, Apple to a new record. The Federal Reserve on Wednesday kept its benchmark interest rate in a range of 5.25 percent to 5.5 percent, in line with market expectations, signaling at least three rate cuts next year, and Fed Chairman Jerome Powell spoke out loudly that interest rates have entered restrictive territory and believe policy rates have reached or are near their peak.U.S. bank stocks rebounded strongly on Thursday after the Federal Reserve signaled it could cut interest rates in 2024, rallying to their highest levels since early March after a first-quarter U.S. banking crisis led to some bank failures. The S&P 500 banks index rose 4.4 per cent, climbing for a second straight session to its highest level