According to Odaily Planet Daily, the Federal Reserve announced its first interest rate cut of 2025 and hinted at further rate cuts in the future, fueling a risk-on mood on Wall Street and sending US stocks sharply higher. Thursday's gains in US stocks marked a reversal from traders' initial reaction to the Fed's decision the previous day, which saw profit-taking on over-performing tech stocks. Robert Schein, chief investment officer at wealth management firm Blanke Schein, said: "The Fed cutting rates at a time when the stock market is at record highs and the economy is still growing is a very unique backdrop, as Fed rate cuts are typically associated with economic issues. This dynamic is bullish for the stock market."

U.S. cryptocurrency concept stocks rose in early trading, with Bullish surging more than 10%. Its first quarterly report after listing turned losses into profits, with both performance and guidance exceeding expectations; BMNR rose more than 10%, Circle rose more than 5%, and Robinhood rose more than 3%.