CNBC Daily Open: Markets have finally processed the good news

New highs 
U.S. stocks rallied connected Thursday. The S&P 500 and Dow Jones Industrial Average marked caller grounds closes, portion the tech-heavy Nasdaq Composite had its fourth-best time this year, fueled by a rally successful tech. Asia-Pacific markets mostly roseate Friday. Japan's Nikkei 225 added astir 1.7% arsenic the country's halfway user terms scale roseate an expected 2.8% twelvemonth connected year. 

Steady rates successful China and Japan  
Two large cardinal banks successful Asia made involvement complaint decisions connected Friday. The People's Bank of China near its one-year and five-year indebtedness premier rates unchanged astatine 3.35% and 3.85% respectively, defying expectations. The Bank of Japan besides kept rates dependable astatine "around 0.25%," a determination that was successful enactment with Reuters canvass estimates. 

Tech surges  
After taking a time to digest the U.S. Federal Reserve's complaint cut, investors flocked to tech stocks. On Thursday, Tesla soared 7.4%, Nvidia popped 4% and Apple jumped 3.7%. Lifted by those stocks, the Nasdaq roseate 2.5%, its fourth-biggest single-day gain successful 2024. Its sharpest rally this twelvemonth was a 3% summation connected Feb. 22.  

"Recalibration" 
Fed Chair Jerome Powell's usage of the connection "recalibration" seemed to reassure investors that the cardinal bank's 50 ground constituent chopped wasn't that worrying. It signaled the Fed wasn't responding to a slowing economy, but shifting absorption to ensuring employment doesn't dip further, wrote CNBC's Jeff Cox.   

[PRO] Commodity terms movements 
Stocks person rallied connected the backmost of the Fed's complaint cut. Lower rates thin to summation request for commodities arsenic good – but it's not ever truthful straightforward. To foretell the show of commodities, similar gold, copper and oil, analysts from Citi and HSBC looked astatine their humanities question aft a cut.  

"Twenty-four small hours / Brought the prima and the flowers / Where determination utilized to beryllium rain," sings American 1950s prima Dinah Washington. 

Washington mightiness arsenic good beryllium singing astir the market's behavior. Immediately aft the Fed announced the jumbo complaint slash connected Wednesday, stocks deed caller highs earlier falling into the red by the extremity of that day.    

But twenty-four hours later, aft investors assessed that the half-point chopped astir apt didn't portend the commencement of a recession, large indexes rallied to adjacent astatine grounds highs.  

The S&P climbed 1.7% to extremity astatine 5,713.64, the archetypal clip the broad-based scale has breached done the 5,700 ceiling. Likewise, the Dow closed astatine 42,025.19, its archetypal supra the 42,000 level, aft the scale roseate 1.26%.  

The Nasdaq, buoyed by a rally successful names similar Tesla, Nvidia and Apple, was the biggest victor among large indexes, surging 2.51%, for its fourth-best time this year.  

And portion past shows that September hasn't been bully to stocks, it besides tells america that erstwhile the S&P notches grounds highs during the month, the 4th quarter's apt to stay strong. Since 1950, this signifier has played retired successful 20 retired of 22 occasions, noted Oppenheimer. 

Indeed, BMO is truthful bullish astir the marketplace that the slope raised its year-end people for the S&P to 6,100 – an 8.6% ascent from Wednesday's adjacent – the highest projection connected Wall Street. 

"Much similar our past people summation successful May, we proceed to beryllium amazed by the spot of marketplace gains and decided yet again that thing much than an incremental accommodation was warranted," Chief Investment Strategist Brian Belski wrote to clients successful a Thursday note. 

At the extremity of Washington's song, she croons, "What a quality a time makes / And the quality is you." Powell tin possibly consciousness similar Washington's serenading him.  

– CNBC's Alex Harring, Fred Imbert, Hakyung Kim and Lisa Kailai Han contributed to this story.