Asian Stocks Gain on Fed Cut, Nasdaq Futures Drop: Markets Wrap
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Asian equities tracked gains on Wall Street after the Federal Reserve cut interest rates and Chair Jerome Powell voiced optimism that the US economy will strengthen as the inflationary impact from tariffs fades away.The MSCI Asia Pacific Index was up 0.5% after the S&P 500 rose 0.7% on Wednesday, just short of all-time highs, and the Russell 2000 gauge of small-caps jumped to a record. Bonds rallied as the Fed’s quarter-point rate reduction was accompanied by the authorization of fresh Treasury bill purchases to rebuild bank reserves.