On September 19, 2024, at 5:15 AM Eastern Time, stock futures rose while treasuries declined in response to the Federal Reserve’s decision to reduce interest rates by 50 basis points, setting the new range at 4.75% to 5.0%. This adjustment marks the first interest rate cut in over four years.
Notable stocks in the spotlight following this announcement include BP, Plug Power Inc. (PLUG), and MicroStrategy Incorporated (MSTR), among others. The developments were reported by Niloofer Shaikh, a news editor for Seeking Alpha.