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
Is Teradyne Stock Outperforming the Nasdaq?
Barchart - 8 minutes ago
Teradyne has outperformed the Nasdaq Composite over the past year and analysts remain moderately bullish about the stock’s prospects.
U.S. Stocks Rally as Fed Cuts Rates, Projects Further Easing in 2024
Quiver Quantitative, Inc. - 16 minutes ago
The Federal Reserve cut interest rates by half a percentage point, reducing its policy rate to the 4.75%-5.00% range, marking the beginning of what could be a gradual easing cycle aimed at addressing both...
Sri Lanka's presidential election a test for current leader, 2 years after its economy hit bottom
AP - 27 minutes ago
Sri Lankans who usually vote along religious and ethnic lines will be keeping another factor in mind when they vote Saturday on a new president
Vietnamese real estate tycoon, already sentenced to death for fraud, faces trial on new charges
AP - 30 minutes ago
Vietnamese state media say the second trial for real estate tycoon Truong My Lan — who was sentenced to death for financial fraud in April — started on Thursday
Stock market today: Asian markets forge higher after Fed's first rate cut in over 4 years
AP - 1 hour 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
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