Market Brief 26 September, 2024

Good evening, investors and traders! The markets are showing positive momentum today, with the S&P 500 Index (GSPC) up by 0.38% to 5,743.73 and the Nasdaq 100 Index (NDX) gaining 0.71% to 20,113.67. Several key developments are driving market sentiment, including the Federal Reserve's recent interest rate cuts and China's plans to inject capital into its state banks. The crypto market is also experiencing a surge, with Bitcoin surpassing $65,000 for the first time in four weeks. The SEC Chair Gary Gensler has reiterated that Bitcoin is not a security, providing some clarity for investors. Meanwhile, the crypto industry is facing challenges, with a recent report revealing that over $409 million was lost to hacks in the third quarter of 2024.