Fed Lowers Interest Rates For First Time Since December, Projects Two More Cuts This Year

Group 1 - The U.S. Federal Reserve announced a quarter percentage point cut in interest rates, the first since December, due to a softening labor market [1] - The Fed projected two additional rate cuts in 2025, with the benchmark rate expected to be in the range of 3.50% to 3.75% by year-end [1] - The Dow Jones Industrial Average increased by 465 points following the announcement, while the tech-heavy Nasdaq and S&P indexes experienced declines, indicating mixed market reactions [2] Group 2 - Media stocks showed positive performance, with Paramount, Disney, Comcast, TKO, and Lionsgate up by 1%, and Warner Bros. Discovery and Netflix trading up by 2% [3] - Fox's stock increased by 3%, while Snap, Charter, and Sinclair saw gains of 4% [3] - The Federal Reserve's statement highlighted a moderation in economic activity growth, with slowed job gains and a slight increase in the unemployment rate, although it remains low [5]