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Stock Market Overview

Thu, Sep 19th, 2024
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Stocks Soar as Fed’s Aggressive Rate Cut Encourages Risk-On Sentiment


The S&P 500 Index ($SPX) (SPY) today is up by +1.56%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +1.28%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +2.32%.

Stocks today are sharply higher, with the S&P 500 and Dow Jones Industrials posting new all-time highs and the Nasdaq 100 climbing to a 4-week high.  Stocks are rallying worldwide after the Fed cut interest rates by -50 bp on Wednesday. The Fed’s -50 bp rate cut and projections for another -50 bp of rate cuts this year have bolstered speculation the Fed will engineer a soft landing and sparked risk-on sentiment for asset markets.  Stocks maintained their gains today despite an increase in bond yields after US weekly initial unemployment claims fell more than expected to a 4-month low, a hawkish factor for Fed policy.

US weekly initial unemployment claims fell -12,000 to a 4-month low of 219,000, showing a stronger labor market than expectations of 230,000.

The US Aug Philadelphia Fed business ou... Read more

Best Value Stocks to Buy for September 19th

Here are three stocks with buy rank and strong value characteristics for investors to consider today, September 19th:  Cerence CRNC: This company which provides A.I. powered assistants and innovations...

PAM : 60.98 (+2.59%)
MHO : 170.33 (+1.85%)
CRNC : 2.60 (+3.59%)
5 AI Giants to Watch at Attractive Prices Amid Fed's Big Rate Cut

On Sept. 18, in its FOMC meeting, the Fed reduced the benchmark lending rate by 50 basis points, marking the first cut of the Fed Fund rate since March 2020. Although the first rate cut was certain in...

WDC : 66.07 (+2.56%)
MU : 89.64 (+2.62%)
TSM : 175.01 (+4.62%)
SMCI : 447.37 (+2.40%)
SNOW : 113.14 (+2.13%)
Chesapeake Energy's Merger Deal to Close Early in Q4 2024

Chesapeake Energy Corporation CHK has announced that the pending merger with Southwestern Energy SWN is anticipated to close early in the fourth quarter of this year. Chesapeake Energy had announced the...

CHK : 76.01 (+2.01%)
SWN : 6.50 (+2.36%)
EGY : 5.97 (+3.29%)
PED : 0.9346 (+1.59%)
Lockheed Finishes Risk Reduction Test for TPY-4 Radar: Time to Buy?

Lockheed Martin Corp. LMT recently completed the risk reduction testing for the TPY-4 radar, thereby making progress in the Three-Dimensional Expeditionary Long-Range Radar (“3DELRR”) program. Notably,...

LMT : 564.26 (-0.22%)
ERJ : 34.75 (-0.14%)
LDOS : 154.71 (+0.60%)
RTX : 118.29 (+0.21%)
Petrobras Shifts Focus to Oil and Gas, Reveals New Strategic Plan

Brazil's state-owned energy giant, Petrobras S.A. PBR has unveiled its new strategic plan that will mark a shift toward a greater emphasis on oil and gas exploration and production as the company seeks...

PBR : 14.65 (+0.48%)
CLB : 18.54 (+1.31%)
EGY : 5.97 (+3.29%)
VOPKY : 45.1600 (-4.95%)
Fed Trims Rates by 50 bps: 3 Utilities to Add to Your Portfolio

The U.S. Federal Reserve has finally lowered the benchmark rate by 50 basis points, bringing down rates to a range of 4.75%-5% from the 5.25%-5.5% range. The rates were lowered for the first time in four...

NGG : 68.22 (-2.61%)
AWK : 148.18 (-0.51%)
EVRG : 60.86 (-1.12%)

52 Week New Highs & Lows

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Today's New Highs & Lows

HIGHS LOWS DIFF
5-Day 1,493 264 1,229
1-Month 718 70 648
3-Month 383 43 340
6-Month 283 33 250
52-Week 238 24 214
YTD 247 28 219

Top Performing Sectors

Top 100 Stocks

(Sorted by Daily Weighted Alpha)

Market Momentum

NYSE AMEX NASDAQ
Issues Up 861 53 1,284
Issues Down 1,035 155 1,762
Issues Unch 46 10 117

S&P Sectors Market Map

Tweets @Barchart

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S&P 500 $SPX was up 23.38% between the last Fed Rate hike and today's Fed Rate Cut. That is the largest pause rally in history! https://t.co/i0KoEpI9eO
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Federal Reserve Governor Miki Bowman is the first Fed Governor to vote against an interest rate decision in almost 20 years https://t.co/8FKmfOP6tK
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Sugar soars to highest price since April 🍭 https://t.co/NtLo1AdxFn
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BREAKING 🚨: U.S. Dollar Index $DXY falls below 100 for the first time since July 2023 https://t.co/Vkq6RNjJV5 https://t.co/AVQRHOoBJ9
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Fund Manager allocation to commodities is at its lowest level since June 2017 👀 https://t.co/1YVIeR7gSs
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JUST IN 🚨: Gold jumps to new all-time high https://t.co/QoZoWTjmj1 https://t.co/9nkrugm4gm
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Small Cap Stocks $IWM getting sent 🚀 https://t.co/lcg5n79Ml5
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Tech Stocks jumping $QQQ after the Federal Reserve cut interest rates by 50 bps https://t.co/uCKn2TISb9
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JUST IN 🚨: Federal Reserve cuts interest rates by 50 bps https://t.co/sm3tILTzRK
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Source: @VisualCap
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