|Day's range||26,415.05 - 26,569.75|
|52-week range||21,712.53 - 26,951.81|
Stocks edged up as investors reacted to the Federal Reserve’s latest monetary policy decision to keep benchmark interest rates unchanged.
The Federal Reserve left interest rates unchanged, but also hinted it could cut rates in the future. All three major indexes closed in the black.
The Federal Reserve chose to leave interest rates unchanged at the conclusion of its two-day meeting, a widely expected outcome that nevertheless left the door open for a rate cut if the economy weakens.
Barring a major change in the economic outlook, the Federal Reserve will soon begin lowering interest rates. While rates were left unchanged for now, most Fed officials indicated the central bank will cut them before the end of the year.
Despite its June rally, Tesla stock remains in a downtrend. Can delivery and production data in July change that—or will it just reinforce the trend?
Fund managers are the most bearish they’ve been since 2008, and they’re rushing into bonds and defensive sectors. But with pessimism so high, the odds may favor more upside.
The main U.S. stock indexes were poised to open more or less unchanged as investors await a Federal Reserve decision on interest rates later in the day.
Fed Chair Jerome Powell will let the market know if he’s going to deliver what it wants—lower interest rates—at the end of the two-day FOMC meeting Wednesday afternoon. .
A much-anticipated meeting of the Federal Reserve’s policy-setting panel wrapped up Wednesday with the FOMC leaving interest rates unchanged for now. But it could still lay the groundwork for future reductions.
Based on the early trade, the direction of the September E-mini Dow Jones Industrial Average futures contract on Wednesday is likely to be determined by trader reaction to the short-term uptrending Gann angle at 26409.
US government bond yields eyed multiyear lows and stocks rallied in the wake of the Federal Reserve adopting a dovish outlook but ultimately keeping interest rates on hold at its meeting today. The move was most prominent among short-term Treasuries, with the yield on the policy-sensitive two-year eyeing its lowest closing level since December 2017, and that on the benchmark 10-year eyeing its lowest close since November 2016.
It’s hard to conclude based on the reports that the United States and China are even close to an agreement. So I have to disagree with some headlines which suggest prices rose because of a “potential” deal that will end the long trade impasse. Tuesday’s rally was all based on hope. Hope of a dovish Fed and hope of a meeting between Trump and Xi.
President Donald Trump and President Xi Jinping of China will meet at the G-20 next week, boosting hopes a trade deal can be nailed down eventually. Investors were also awaiting the Fed’s interest-rate decision on Wednesday for signs the central bank could cut rates this year.
Bloomberg reported that the White House looked into whether it was possible to demote Powell from his role as chairman to governor.
If the upside momentum continues then look for a breakout over the intraday high at 26550. If this move creates enough upside momentum then look for a potential rally into the April 23 main top at 26710. If investors start to square positions or take profits ahead of Wednesday’s Fed announcements then look for a potential pullback into the short-term uptrending Gann angle at 26281.
Investors were cheered that President Donald Trump and President Xi Jinping of China will meet at the G-20 next week in Japan, raising hopes for a truce on tariffs.
President Donald Trump said he had a “good conversation” with President Xi Jinping of China and that the two would have an “extended meeting” at the G-20 in Japan. That reset expectations for trade negotiations and sent stocks higher.
After the ECB hinted at a return to asset buying, the stock market appears to be looking forward to a nice dose of monetary stimulus from the Federal Reserve.
U.S. stocks were poised to start higher after European Central Bank President Mario Draghi indicated that the bank could provide more economic stimulus.