We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.

If the Fed cuts interest rates today, borrowers will likely see interest rates ease off their peaks on things like credit cards and auto loans.

Oil prices extended their recent recovery rally and rose more than 1% on Thursday as a large cut in U.S. interest rates and declining global stockpiles helped offset some of the demand concerns arising from weak consumption in China.

Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates

Do rate cuts with the stock market at or near all-time highs provide bulls additional fuel or do they portend trouble ahead? Dow Jones Market Data ran back the tape.

Oil prices rose by nearly 2% on Thursday after the Federal Reserve's large cut in U.S. interest rates helped global benchmark Brent crude recover from its lowest in nearly three years hit last week. Brent futures rose to $74.

Markets in Europe and Asia shot higher on Thursday after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates. U.S. futures were higher after a lackluster response on Wall Street to the Fed's move the day before.