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SPY, QQQ Rally on Rate Cut Optimism as Trump Touts U.S.-China Relations
SPY, QQQ Rally on Rate Cut Optimism as Trump Touts U.S.-China Relations
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BTCCSquare news:
U.S. equity ETFs surged as markets priced in near-certainty of a December Fed rate cut. SPY and QQQ gained over 1.5% after dovish commentary from Fed officials Williams and Daly, who emphasized labor market vulnerabilities over inflation risks.
The probability of a 25bps cut jumped to 80.9% on CME FedWatch, nearly doubling from last week. Lower borrowing costs typically boost risk assets - a tailwind for crypto markets despite no direct mentions in this report.
Geopolitical tensions eased slightly after President Trump's call with China's Xi Jinping, though tariff impacts remain a concern for Fed policymakers. The San Francisco Fed noted tariff-driven cost increases have been milder than expected.
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