China’s Central Bank announced a significant stimulus package, including rate cuts and reserve requirement reductions, sparking a surge in metal and mining stocks like Freeport-McMoRan. The move aims to bolster investment and support metal demand amidst a slowing Chinese market.
Results for: China Stimulus
Wall Street edged higher on Tuesday, with the Nasdaq 100 outperforming other major indices, fueled by a surprise stimulus package from China’s central bank. Chinese equities and commodities skyrocketed in response, while the U.S. dollar weakened on lower-than-expected consumer confidence data. The move could potentially lead to a rate cut by the Federal Reserve.