Market Brief 18 September, 2024

Good evening, investor! The markets are experiencing a mixed day, with the Nasdaq 100 Index (NDX) down by -0.45% to 19,344.55 and the S&P 500 Index (GSPC) down by -0.28% to 5,618.74. The Federal Reserve has cut interest rates by 50 basis points, the first cut in four years, which has sparked a rally in the stock market. The Fed's decision has also fueled optimism in the cryptocurrency market, with Bitcoin surging above $60,000. The news of the day is the announcement of a new $30 billion AI infrastructure venture backed by BlackRock and Microsoft. This venture is expected to drive innovation in the AI space and could have a significant impact on the tech sector.