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How much will the S&P 500 change by the end of 2024?
3
Resolution / Starting Odds
Increase by more than 10% • 25%
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S&P 500 closing prices from financial news websites and stock exchanges
Story
Fed Initiated 50 bps Rate Cuts on Sept 18, 2007, Sparking SPX Rally
Sep 16, 2024, 06:09 AM
The Federal Reserve initiated a rate-cutting cycle on September 18, 2007, reducing the federal funds rate by 50 bps from 5.25% to 4.75%. This move was part of an effort to mitigate the economic downturn that preceded the Great Recession. Following the rate cut, the S&P 500 (SPX) rallied, gaining approximately 6% from the close on September 17 to a high of 1565 on October 9, 2007. This high remained untouched until 2013. The rate cut marked the beginning of a series of monetary policy adjustments aimed at stabilizing the economy.
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