Fed rate cut boosts investor sentiment; Cipher Mining stock near highs. Russell 2000 index surged 1% to 2,550 points. Dow Jones, S&P 500, Nasdaq 100 gained slightly. Small caps seen as biggest beneficiaries of lower borrowing costs.
The Federal Reserve's third consecutive interest rate cut boosted investor sentiment, leading to gains in high-beta stocks like clean energy and crypto mining. Cipher Mining's stock is near recent highs. The Russell 2000 index surged 1% to 2,550 points, benefiting small-cap stocks due to lower borrowing costs. Dow Jones, S&P 500, and Nasdaq 100 saw slight gains.
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