The Federal Reserve announced its first interest rate cut in 2025 and hinted at further rate cuts in the future, risk appetite permeated Wall Street, and U.S. stocks rose sharply. Thursday's gains in U.S. stocks marked a reversal of traders' initial reaction to the Federal Reserve's decision the previous trading day, when Wall Street took profits on overvalued tech stocks. "The Fed cutting rates with the stock market at all-time highs and the economy still growing is a very unique backdrop, as Fed rate cuts are usually associated with economic problems," said Robert Schein, chief investment officer at wealth management firm Blanke Schein. This dynamic is favorable for the stock market."

U.S. crypto concept stocks rose in early trading, with Bullish up more than 10.00%, the first quarterly report after listing turned a profit, and both performance and guidance exceeded expectations; BMNR rose more than 10.00%, Circle rose more than 5.00%, and Robinhood rose more than 3.00%.