Breaking News
0

Stocks Stage Late Rally Despite Fed’s Caution Toward Further Rate Cuts

By Matthew WellerStock MarketsSep 19, 2019 03:49AM ET
www.investing.com/analysis/stocks-stage-late-rally-despite-feds-caution-toward-further-rate-cuts-200465999
Stocks Stage Late Rally Despite Fed’s Caution Toward Further Rate Cuts
By Matthew Weller   |  Sep 19, 2019 03:49AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Daily % Candles (From Asia Open)
Daily % Candles (From Asia Open)

  • As expected, the Federal Reserve opted to cut interest rates 0.25% to the 1.75-2.00% range today. In its accompanying economic projections, most Fed policymakers projected that the central bank was done cutting interest rates for the year, though Fed Chairman Powell did hint at the potential for further balance sheet expansion depending on how conditions evolve.
  • FX: The pound and US dollar were the strongest major currencies today, while the aussie and kiwi brought up the rear.
  • Commodities: Oil dropped another -2% today as President Trump seemingly opted for “a diplomatic response” (including additional sanctions) on Iran rather than a military response. Gold fell nearly -1%.
  • A couple of the major altcoins surged today, with both Ethereum (ETH, +2%) and Ripple (XRP, +10%) seeing noteworthy rises. Cryptocurrency benchmark Bitcoin remains mired around the 10,200 area.
  • US Cash Indices % Change
    US Cash Indices % Change

  • US indices closed mixed after a late rally as Fed Chairman Powell moderated the hawkish tone of the central bank’s statement.
  • Energy (XLE (NYSE:XLE)) once again brought up the rear among the major sectors; Financials (XLF) led the way to the topside.
  • Stocks on the move:

  • FedEx (NYSE:FDX) dumped -13% after cutting its outlook for 2020 and warning on risks to the global economy.
  • McDermott International (MDR) collapsed -63% after announcing that it engaged a turnaround consulting firm.
  • Recent IPO Chewy Inc (CHWY) slumped -6% after reporting a larger-than-expected loss
  • Economic Calendar
    Economic Calendar

    Original Post

    Stocks Stage Late Rally Despite Fed’s Caution Toward Further Rate Cuts
     
    Stocks Stage Late Rally Despite Fed’s Caution Toward Further Rate Cuts

    Add a Comment

    Comment Guidelines

    We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

    • Enrich the conversation
    • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
    • Be respectful. Even negative opinions can be framed positively and diplomatically.
    •  Use standard writing style. Include punctuation and upper and lower cases.
    • NOTE: Spam and/or promotional messages and links within a comment will be removed
    • Avoid profanity, slander or personal attacks directed at an author or another user.
    • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
    • Only English comments will be allowed.

    Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

    Write your thoughts here
     
    Are you sure you want to delete this chart?
     
    Post
    Post also to:
     
    Replace the attached chart with a new chart ?
    1000
    Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
    Please wait a minute before you try to comment again.
    Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
     
    Are you sure you want to delete this chart?
     
    Post
     
    Replace the attached chart with a new chart ?
    1000
    Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
    Please wait a minute before you try to comment again.
    Add Chart to Comment
    Confirm Block

    Are you sure you want to block %USER_NAME%?

    By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

    %USER_NAME% was successfully added to your Block List

    Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

    Report this comment

    I feel that this comment is:

    Comment flagged

    Thank You!

    Your report has been sent to our moderators for review
    Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

    Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
    Continue with Google
    or
    Sign up with Email