^IXIC - NASDAQ Composite
| Previous Close | 8,186.02 |
| Open | 8,174.62 |
| Volume | 1,840,610,016 |
| Day's Range | 8,086.22 - 8,179.87 |
| 52 Week Range | 6,190.17 - 8,339.64 |
| Avg. Volume | 1,937,180,156 |
- Yahoo Finance
Powell faces record dissent as Fed splits further on interest rates
Fed Chairman Jerome Powell faces the tough task of corralling a committee dividing further on where rates should go next.
- Yahoo Finance
Fed cuts rates again, telegraphs possibility of one more
The Federal Reserve will announce its next moves on rates this afternoon. Wall Street is expecting a 25 basis point cut.
- Yahoo Finance Video
How far will the Fed go with rate cuts?
The Fed 2-day meeting wraps today with an expected rate cut announcement from Jay Powell. Yahoo Finance's Julie Hyman, Adam Shapiro, Krishna Memani, Invesco Vice Chair of Investments and Danielle DiMartino Booth, Quill Intelligence CEO and Chief Strategist discuss.
- Investor's Business Daily
Dow Jones Futures: Stock Market Steady, Apple In Buy Range After Fed Rate Cut; Microsoft Sets Big Buyback
Dow futures: The stock market rally held up after a Fed rate cut and Fed chief Jerome Powell's comments. Apple is a buy again. Microsoft rose late on a buyback. Will AT&T; sell DirecTV?
- Barrons.com
The Dow Rose 36 Points Because the Fed Cut Rates but It Didn’t Cut Loose
All three major indexes rebounded by Wednesday’s close after initially diving after the Federal Reserve’s 25-basis-points rate cut. The Fed didn’t loosen monetary policy. The Dow Jones Industrial Average and S&P 500 managed to close with some gains.
- Barrons.com
The Dow Finished Higher After the Fed Did What Was Expected and That Turned Out to Be Enough
There had been some concern before the meeting that the Fed might not lower interest rates. But the Fed cut rates by a quarter point, and nothing else. Donald Trump is not happy.
- Reuters
US STOCKS-S&P 500 ends slightly higher after Fed gives mixed signals
The S&P 500 ended marginally higher on Wednesday after Federal Reserve policymakers cut interest rates by a quarter of a percentage point, as expected, but gave mixed signals about their next move. With continued economic growth and strong hiring "the most likely outcomes," the Fed nevertheless cited "uncertainties" about the outlook and pledged to "act as appropriate" to sustain the expansion. Stocks sold off immediately after the Fed's announcement but rebounded during Chairman Jerome Powell's press conference.
- Reuters
GLOBAL MARKETS-Stocks reverse losses, Treasury yields dip following remarks by Fed's Powell
The S&P 500 and the Dow reversed losses to close higher on Wednesday and U.S. Treasury yields slipped after remarks by Federal Reserve Chair Jerome Powell tempered the market's initial reaction to the U.S. central bank's policy statement. All three major U.S. stock indexes initially extended earlier losses following the release of the Fed's policy decision after the close of a two-day meeting, which dimmed hopes for further rate cuts and fell short of the more aggressive reduction in borrowing costs that President Donald Trump had demanded.
- MarketWatch
Trump slams Fed after quarter-point rate cut and says he’s ordering more Iran sanctions
President Donald Trump ripped the Federal Reserve after the central bank cut interest rates by a quarter point Wednesday, as he ordered more sanctions on Iran and named a new national security adviser.
- MarketWatch
U.S. stocks close mixed after Fed cuts rates but casts doubt on future stimulus
U.S. stocks ended Wednesday flat to higher, after the Federal Reserve announced it would cut its benchmark federal funds rate a quarter percentage point, in line with market expectations, but called into question whether there will be another rate cut this year or next.
- MarketWatch
Dow ends sightly higher as bank stocks take an unusual bounce higher after Fed cuts interest rates
U.S. stock indexes on Wednesday finished mostly higher--even if only slightly so--after the Federal Reserve cut benchmark rates, as expected. The Dow Jones Industrial Average closed up 36 points, or 0.1%, to 27,147, but had been down by as many as 211.65 points at session lows. Meanwhile, the S&P 500 index added about a point, or less than 0.1%, to end at at 3,006.73. The Nasdaq Composite index edged 9 points, or 1%, lower to 8,177. The rate-setting Federal Open Market Committee cut rates by one quarter of a percentage point to a range of 1.75%-2%, in a 7-3 vote. Stocks initially took a leg lower but began to pare losses as Fed Chairman Jerome Powell explained the rate decision in a press conference at 2:30 p.m. Eastern, about a half-hour after the release of the central bank's policy statement. Voting against the action were St. Louis Fed President James Bullard, who preferred to lower the target range for the federal-funds rate to 1.50% to 1.75%. Kansas City Fed President Esther George and Boston Fed President Eric Rosengren both preferred to maintain the target range at 2% to 2.25%."Bottom line, there is now a likelihood that as of today, this might be the last rate cut of the year as the 'mid course adjustment' process continues but could be done. So call this a hawkish cut," wrote Peter Boockvar, chief investment officer at Bleakley Advisory Group, in a research note after the Fed decision. The 10-year Treasury yield climbed after the Fed decision, with the rate rising to 1.79%, helping to deliver a lift to the banking sector, which tends to benefit from higher yields, even though the Fed cut rates. The Financial Select Sector SPDR ETF finished the session with a 0.4%, and shares of Goldman Sachs Group Inc. and those for JPMorgan Chase & Co. led gains for the blue-chip Dow.
- Reuters
GLOBAL MARKETS-Stocks fall, Treasury yield curve flattens after Fed cuts rates but sends mixed signals
U.S. stocks extended their losses and the U.S. Treasury yield curve flattened on Wednesday, after the U.S. Federal Reserve cut interest rates, as expected, but gave mixed signals regarding future rate moves. All three major U.S. stock indexes fell in choppy trading, and the spread between 2-year and 10-year U.S. Treasuries flattened to 3 basis points. At a news conference following the policy decision, Fed Chair Jerome Powell said rates were lowered to keep the economy strong and provide insurance against risk, adding that the Fed is closely monitoring economic data, trade and global growth risks.
- Reuters
US STOCKS-Fed's mixed signals on next move send Wall Street lower
Wall Street sank on Wednesday as Federal Reserve policymakers gave mixed signals about their next move after cutting interest rates by a quarter of a percentage point in a widely expected move. With continued economic growth and strong hiring "the most likely outcomes," the Fed nevertheless cited "uncertainties" about the outlook and pledged to "act as appropriate" to sustain the expansion. "The main concern (for stock investors) is there might not be another cut, and that's why you had a little bit of a sell-off," said Alan Lancz, President of Alan B. Lancz and Associates in Toledo, Ohio.
- Barrons.com
The Utilities Sector, Not Surprisingly, Is the Only One Trading Higher
The utilities sector was the only one in the black Wednesday afternoon following the Federal Reserve’s decision to lower interest rates for a second time this year. Markets were expecting the rate cut and were largely in a holding pattern until the 2 p.m. Eastern time announcement. The Dow Jones Industrial Averagewas off 0.5% near 3 p.m., while the S&P 500 was down 0.6% and the Nasdaq Composite slipped 0.9%.
- Reuters
US STOCKS-Wall Street sinks after Fed gives mixed signals on next move
Wall Street sank on Wednesday when Federal Reserve policy makers gave mixed signals about their next move after cutting interest rates by a quarter of a percentage point in a widely expected move. With continued economic growth and strong hiring "the most likely outcomes," the Fed nevertheless cited "uncertainties" about the outlook and pledged to "act as appropriate" to sustain the expansion. Expectations of lower rates have supported Wall Street's rally this year, with the benchmark S&P 500 less than 2% below its record high close in July.
- MarketWatch
Stock-market losses accelerate as Fed cuts interest rates but fails to point to further easing
U.S. stock-index losses accelerated Wednesday afternoon as investors assessed the Federal Reserve's decision to cut rates, as expected, with several dissenting votes, implying that further reductions are not guaranteed.The Dow Jones Industrial Average was down 170 points, or 0.6%, to 26,943, while the S&P 500 lost 21 points, or 0.7%, to trade at 2,984. The Nasdaq Composite declined 83 points, or 1%, to 8,103. The rate-setting Federal Open Market Committee cut rates by one quarter of a percentage point to a range of 1.75%-2%, in a 7-3 vote. Voting against the action were James Bullard, who preferred to lower the target range for the federal-funds rate to 1.50% to 1.75%. Esther George and Eric Rosengren preferred to maintain the target range at 2% to 2.25%. "Bottom line, there is now a likelihood that as of today, this might be the last rate cut of the year as the 'mid course adjustment' process continues but could be done. So call this a hawkish cut," wrote Peter Boockvar chief investment officer at Bleakley Advisory Group, in a research note after the Fed decision. The central bank is expected to host a news conference hosted by Chairman Jerome Powell at 2:30 p.m. Eastern.
- Reuters
US STOCKS-Wall Street extends losses following Fed announcement
U.S. stocks extended losses on Wednesday after the Federal Reserve cut interest rates by a quarter of a percentage point in a widely expected move, but gave mixed signals about what may happen next. With continued economic growth and strong hiring "the most likely outcomes," the Fed nevertheless cited "uncertainties" about the outlook and pledged to "act as appropriate" to sustain the expansion. Expectations of lower rates have supported Wall Street's rally this year, with the benchmark S&P 500 now about 1% below its record high close in July.
- Investor's Business Daily
Fed Cuts Key Rate, Hints At Balance Sheet Expansion; Dow Jones Rebounds
A rate cut was paired with mixed signals on future cuts, but renewed balance-sheet expansion could come as soon as the next Fed meeting.
- MarketWatch
FOMC cuts fed funds rate, 7 officials project one more by year end
WASHINGTON (MarketWatch) - The Federal Reserve on Wednesday trimmed its benchmark interest rate to 1.75% to 2%, with a sizable minority projecting one more rate reduction in 2019. The central bank has cut rates twice in the past two months as an insurance policy against damage from the U.S. trade war with China. The vote was 7-3. St. Louis Fed President James Bullard preferred a half-point cut. Boston Fed President Eric Rosengren and Kansas City Fed President Esther George dissented for the second meeting in a row, preferring no rate cut. Looking ahead, 10 senior Fed officials projected no more rate cuts this year, but seven viewed one more reduction as likely. Meanwhile, the Fed left its forecast for the economy little changed over the next several years. Notably, the central bank projected no rate changes in 2020 and just one rate hike in both 2021 and 2022.
- MarketWatch
Bond King Gundlach says this contradiction in stock and bond markets is ‘danger signal’
Bond-market guru Jeff Gundlach says he’s watching a few areas of the market to gauge whether the current bullish dynamic is starting to unravel in earnest. On Wednesday afternoon, during a CNBC interview, he said that he’s sees some early cracks that are worth investors’ attention.
