The Federal Reserve kicked off this round of monetary easing with a significant 50 bp rate cut on Wednesday. Although the market showed a muted response that day, on Thursday, with the US initial jobless claims data reinforcing expectations of an economic soft landing, the market confidently began to revel in the rate cut, with the $S&P 500 Index (.SPX.US)$hitting its 39th new high of the year and closing above 57...

Morning Movers
Gapping up
$Nike (NKE.US)$ stock rose 7.4% after the athletic apparel firm announced that Chief Executive John Donahoe is set to step down from the position next month.
Gapping down
$FedEx (FDX.US)$ stock slumped 13% after the logistics group cut its full-year guidance and reported fiscal first-quarter earnings that fell well short of Wall Street expectations.
$PepsiCo (PEP.US)$ stock fell 1.1% after Morgan Sta...