Nasdaq blasts off as stocks surge the day after Fed rate cut

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After closing Wednesday lower, US stocks have woken up to the reality of the Federal Reserve's 50-basis-point cut and are off to the races. The Dow Jones Industrial (^DJI) is rising by over 1%, while the S&P 500 (^GSPC) sees gains of 1.5% and the Nasdaq Composite (^IXIC) blasts off by 2.3%.

Seana Smith and Brad Smith highlight Thursday morning's market momentum, namely in the tech-heavy Nasdaq and semiconductor sectors, the bond market (^TYX, ^TNX, ^FVX), and bitcoin's (BTC-USD) price action.

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This post was written by Luke Carberry Mogan.