Stock Market Overview
Wed, Sep 18th, 2024
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S&P 500 Falls from a Record High on Hawkish Powell
Barchart - Wed Sep 18, 3:45PM CDT
The S&P 500 Index ($SPX) (SPY) Wednesday closed down by -0.29%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.45%.
Stocks on Wednesday gave up mid-session gains and turned lower as hawkish comments from Fed Chair Powell pushed bond yields higher and sparked the selling of chip stocks when he said the Fed was in no rush to ease monetary policy.
Stocks initially rallied Wednesday afternoon, with the S&P 500 and Dow Jones Industrials climbing to new record highs and the Nasdaq 100 climbing to a 3-week high. The FOMC’s decision Wednesday to cut the fed funds target range by -50 bp and project another -50 bp worth of rate cuts by year-end pushed stock prices higher. Also, Wednesday’s US housing starts and building permits reports were better than expected, bolstering the prospects for a soft landing and supporting stocks.
The FOMC voted 11-1 to cut the federal funds target range by -50 bp... Read more
Stock market today: Asian markets forge higher after Fed's first rate cut in over 4 years
AP - 56 minutes ago
Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates
Musk's X skirts Brazil ban and returns to some users with change to server access
AP - Wed Sep 18, 9:29PM CDT
Some Brazilian users have regained access to X despite a nationwide ban put in place by the country’s Supreme Court
Oversight board says it will help speed up projects to fix Puerto Rico's electric grid
AP - Wed Sep 18, 8:53PM CDT
A federal control board that oversees Puerto Rico’s finances says it will step in to help speed up projects to fix the island’s crumbling power grid as widespread outages persist
3 Hot Stocks Suited for Momentum Investors
Zacks Investment Research - Wed Sep 18, 8:22PM CDT
Momentum investors look to ride bullish trends where buyers are in control.And pairing the strategy with the Zacks Rank makes the approach even more potent. Three stocks – EMCOR EME, Progressive PGR,...
The Q3 Earnings Season Gets Underway
Zacks Investment Research - Wed Sep 18, 8:06PM CDT
Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please...
The Q3 Earnings Season Gets Underway
Zacks Investment Research - Wed Sep 18, 7:50PM CDT
Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please...
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