The second cut.

The second rate cut of the year resulted in another 25 basis point cut.

The move came during a heavy earnings week for tech and financial firms, and it took place during a continuing government shutdown.

The shutdown is a major factor, as people are without pay and have limited access to new economic data.

Markets read the decision as confidence that inflation is cooling without forcing a slowdown.

Earnings strength and the rate move suggest the economy is still expanding at a sustainable pace.

The trend we've seen is capital allocation staying in growth assets. Trade accordingly.