🚀 Fed cuts interest rates

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. The Federal Reserve cut interest rates by a quarter point on Wednesday, bringing its benchmark down to 4%-4.25%, the lowest level in nearly three years, while signalling two more cuts this year and a slower pace beyond. Markets reacted unevenly; stocks initially rallied before the S&P 500 and Nasdaq slipped. At the same time, Treasury yields moved in opposite directions across maturities, reflecting investor uncertainty over whether the Fed is leaning dovishly or hawkishly. Chair Jerome Powell framed the move as “risk management.” Still, divisions were clear: new Trump-appointed Governor Stephen Miran dissented in favour of a bigger cut, and the committee narrowly split 10-9 on whether to pursue two more reductions in 2025. The dot plot showed wide disparities on the path ahead, underscoring a tricky policy environment as the Fed balances weakening labour markets, persistent inflation risks, and rising political scrutiny. With Powell’s term set to end in 2026 and personnel changes looming, some economists warn the Fed could be shifting toward tolerating higher inflation in the years ahead.

2. Cracker Barrel shares tumbled nearly 10% after reporting mixed fourth-quarter results, missing earnings expectations but beating on revenue, as the company continued to deal with the fallout from its controversial rebrand. The restaurant chain abandoned its effort to modernize its logo and store design after facing fierce backlash from customers, conservatives online, and even President Trump, who accused it of abandoning its Americana identity. CEO Julie Masino admitted the company had miscalculated. She said Cracker Barrel is now doubling down on “guest experience,” rolling back the new branding at remodelled stores, and launching a “Front Porch Feedback” program to solicit customer input. Despite those efforts, management guided revenue below Wall Street expectations and projected declining traffic, underscoring the challenge of regaining momentum after a self-inflicted stumble that briefly erased, and then restored, about $100 million in market value.

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4. StubHub slipped 6% in its long-awaited New York Stock Exchange debut on Wednesday, closing at $22 after pricing its IPO at $23.50 per share and raising $800 million at a valuation of $8.1 billion. The ticketing platform, acquired by co-founder Eric Baker in 2020 for $4 billion, delayed its initial public offering twice before finally joining a wave of recent tech listings alongside Klarna, Figma, and Circle. While StubHub has benefited from blockbuster tours like Taylor Swift’s and Beyoncé’s, its revenues remain lumpy, losses are widening, and regulators are watching closely—most recently warning the company over hidden “junk fees.” The listing underscores both the rebound of the IPO market and the ongoing challenges of competing with entrenched rivals like Ticketmaster and SeatGeek.

   Headlines

   1. ABC has pulled Jimmy Kimmel Live from its network following comments he made about Charlie Kirk’s killer.

   2. Live Nation CEO says that due to the rising demand for concerts, despite rises in prices, tickets remain underpriced.

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