Wall St tech stocks soar following Fed rate cut

Wall Street notches its best day in six weeks with tech stocks leading the way as the markets celebrate this week’s 50bps Fed rate cut. In China the PBOC bucks expectations of a further rate cut and the BoJ stays put as well while hiking its forecast on domestic consumption. Mercedes slashes its profit outlook once again as Chinese sales fall. And in France, new prime minister Michel Barnier puts the finishing touches on his cabinet in a bid to end months of political deadlock following inconclusive elections in July.