Market Commentary: Thursday 18th September

US and European stock-index futures rose, reflecting renewed investor optimism following the Federal Reserve's quarter-point interest-rate cut, despite lingering uncertainties about the pace of future easing.

S&P 500 contracts climbed 0.4%, Nasdaq 100 futures gained 0.6%, and Treasuries partially recovered losses, while the dollar strengthened for a second day after Fed Chair Jerome Powell described the move as a “risk-management cut.”

The Federal Open Market Committee voted 11–1 in favor, with Governor Stephen Miran dissenting in support of a larger 50-basis-point reduction. Officials now project two additional quarter-point cuts this year, up from prior forecasts. Powell cited labor market weakness as the rationale, while pushing back against expectations of aggressive easing due to tariff-driven inflation risks.

Bitcoin rose 1.4% to $117,298.22
Ether rose 1.9% to $4,589.01
Gold fell 0.2% to $3,652.66 an ounce
Crude fell 0.5% to $63.71

UK monetary policy decision is due today, with rates expected to remain at 4%.

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