European Central Bank Cuts Interest Rates Marking Sixth Cut In 9 Months
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Interest Rate Cuts by ECB: The European Central Bank has reduced its key interest rates by 25 basis points, making borrowing cheaper and indicating a shift towards less restrictive monetary policy as inflation projections approach the 2% target.
Market Reaction: Following the announcement, European markets declined, with notable drops in major indices like the STOXX 50 and STOXX 600, while U.S. ETFs tracking the S&P 500 and Nasdaq also experienced losses in premarket trading.
Analyst Views on QQQ
Wall Street analysts forecast QQQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QQQ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 620.760
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Current: 620.760
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
