Stocks go up, they buy yen, Bitcoin, Lennar, Costco – 5 things to know

Here are five things to know for Thursday, September 22:

1. – Stock futures bounce in the wake of the Hawkish Fed

U.S. equity futures rallied higher on Thursday as the dollar tested new two-decade highs against its global counterparts as investors unpacked a hawkish Federal Reserve rate hike and braced for the impact of the tightening of policies by major central banks around the world.

The Fed’s decision to raise the benchmark Fed Funds rate by 75 basis points, to a range of 3% to 3.25%, was widely anticipated, but President Jerome Powell’s warning, as well as his suggestion that taming inflation could induce recession, pushed stocks sharply lower by close of trading on Wednesday and pushed the US dollar to a new 20-year high against a basket of its global counterparts.


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