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.Â
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
The Q3 Earnings Season Gets Underway
Zacks Investment Research - 8 minutes ago
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...
Tupperware lifts the lid on its financial problems with bankruptcy filing
AP - 18 minutes ago
Tupperware Brands has filed for Chapter 11 bankruptcy protection
Federal Reserve signals end to inflation fight with a sizable half-point rate cut
AP - 28 minutes ago
The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully...
Is Xylem Stock Outperforming the S&P 500?
Barchart - 37 minutes ago
Xylem has outperformed the S&P 500 over the past year, and analysts are moderately optimistic about the stock’s prospects.
Vistra Stock: Is VST Outperforming the Utilities Sector?
Barchart - 51 minutes ago
Vistra has significantly outperformed the utilities sector over the past year, and analysts are highly optimistic about the stock’s prospects.
How Is Equifax's Stock Performance Compared to Other Finance Stocks?
Barchart - 1 hour ago
Equifax has outperformed the broader finance industry over the past year, and yet analysts are highly bullish about the stock's prospects.
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