U.S. stocks shot higher on Wednesday after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years. Citing a "greater confidence" that inflation is moving towards the central bank's 2% target,

While the economy doesn’t seem in obvious need of stimulus, there are signs of a weakening trend. The three-month average gain in non-farm payrolls stands at the lowest since 2020 and gauges of factory output have slipped.