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Party Like It’s a Rate Cut: S&P, Dow Hit New Heights After Fed's Bold Move [StreetAuthority]    From Our Partners  [Alert: You're About to Miss a $1,000+ Cash Payout]( The deadline to sign on for my top income pick's next cash payout is days away, and you do not want to miss it. [Click here for details and to get a FREE Special Report revealing the name and ticker.](   Party Like It’s a Rate Cut: S&P, Dow Hit New Heights After Fed's Bold Move By John Persinos  Wall Street just got a fresh jolt of adrenaline, courtesy of the Federal Reserve’s hefty 0.50% rate cut. With the S&P 500 and Dow Jones Industrial Average soaring to new records, technology and consumer discretionary stocks are stealing the spotlight, as investors swap their caution tape for party hats in a celebration of economic optimism. Global markets have been following suit, with gains seen across Asia and Europe. [Hong Kong’s central bank]( also cut its policy rate this week, adding to the bullish sentiment, while the Bank of England kept rates steady as anticipated. Is the euphoria on Wall Street overdone? Not yet. Robust corporate earnings growth is justifying elevated valuations. Stocks are expensive, but the good news is that they could remain so for quite some time. Underlying technical and fundamental indicators continue to get better. You’d be wise to take advantage of sector rotation by increasing your exposure to cyclical stocks that were laggards during the Fed’s now-ended tightening cycle. Meanwhile, the U.S. dollar is holding firm against major currencies. In commodities, both West Texas Intermediate (WTI) crude oil and gold are on an upward trajectory, underscoring broad market strength. [Jobless claims]( dropped to 219,000 in the week ending September 14, well below forecasts of 230,000 and marking the lowest level in four months. This decline in jobless claims offers further evidence that the labor market remains resilient. Employers seem to be moderating hiring rather than resorting to widespread layoffs. This delicate balance reflects a gradually cooling labor market, exactly the kind of environment needed to achieve the much-coveted “soft landing” for the U.S. economy. A soft landing occurs when the economy slows just enough to rein in inflation without tipping into a recession, which is ideal for investors. The softening of the labor market could also result in slower wage growth, a key factor in taming inflation in the services sector. With less pressure on wages, the Fed would find it easier to continue easing monetary policy, helping support long-term economic growth. The Fed on Wednesday reduced the fed funds rate to a target range of 4.75%-5.0%. Markets are now pricing in expectations of further rate reductions, forecasting that the fed funds rate could dip below 3.0% over the next year. This shift comes as the Fed’s dual mandate of maximizing employment and stabilizing prices moves back into alignment. As the labor market cools and inflation moderates, the central bank has more room to cut rates. [Read More...](   [Money and Pot]( [The #1 Pot Stock To Buy Now]( I’ve spent hundreds of man-hours and an untold amount of money in my hunt for the [cream of the crop when it comes to making money from the legal marijuana boom… And I finally found it.]( I’m not talking about penny pot stocks on some no-name Canadian exchange either. It's a tiny Maryland company with a marijuana “profit-sharing plan” that pays out up to $51,338 a year. It only takes 90 seconds to join. And according to my research, every person who signed up had a chance to receive a payout. [Get the details here.]( You are receiving this email at {EMAIL}as part of your subscription to StreetAuthority. To ensure that you receive these emails, [please add us to your address book.]( [Terms](   [Privacy](   [Unsubscribe]( ©2024 [[ StreetAuthority ]] [[ 20 Pidgeon Hill Drive, Suite 202, Sterling, VA 20165 ]] All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited.