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CORRECTS name of firm to 50 Park Investments in paragraph 8
Wall Street stocks rallied Wednesday after the US Federal Reserve signaled it could cut interest rates as soon as September, with tech shares leading the way.
“The Fed delivered what the markets anticipated in terms of opening the door to a rate cut in September without overcommitting,” said LBBW’s Karl Haeling.
Major US indices spent almost the entire day in positive territory, hitting peaks during Fed Chair Jerome Powell’s press conference before edging down a bit.
The tech-rich Nasdaq Composite Index led major indices, winning 2.6 percent to finish at 17,599.40.
The Dow Jones Industrial Average climbed 0.2 percent to 40,842.79, while the broad-based S&P 500 advanced 1.6 percent to 5,522.29.
After two days of deliberations, Fed policymakers voted unanimously to maintain interest rates at a 23-year high.
But Powell…
