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I'm Kelly O'Grady, and this is the Fox Business Rundown.

Monday, August 26, 2024, stocks rose this morning, enjoying a boost from that fed rate cut optimism,

while threat of a wider war in the Middle East looms over the markets.

I think we're seeing higher oil prices.

I was surprised it didn't happen sooner.

I mean, I'm watching and I'm like, hello, where's the memo?

Markets opened higher this morning after Friday's announcement from Federal Reserve Chairman Jerome Powell

signaling, quote, the time has come to cut rates, right? That's what everyone has been wanting to hear.

Now traders and investors are making money moves with the expectation of

one to three rate cuts in the next few months. Currently there's an air of caution

on aggressive trading as conflict in the Middle East could jeopardize access to key supply lines and steady access to

crude oil. On Sunday Israel launched preemptive airstrikes on the terror group Hezbollah and Lebanon as

Libya halted their oil production over a dispute over who should lead

their central bank. And in the 2024 presidential race, the Harris campaign has endorsed a tax plan

that would include a new tax on unrealized gains. While some are

enthused by the premise of taxing the wealthy, many are concerned how this could

...