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Nasdaq Surges Over 100 Points Following Fed's Rate Cut: Investor Fear Eases Further, Greed Index Remains In 'Fear' Zone - Amazon.com (NASDAQ:AMZN)
The Fed cut rates by 0.25%, lowering the benchmark to 3.75%-4%, but Chair Powell gave no clear signal on a December cut amid economic data gaps from the shutdown.
- On Wednesday, the Federal Reserve is expected to announce a quarter percentage point cut at 2 p.m. ET, bringing the benchmark rate to a targeted range of between 3.75% to 4%.
- Policymakers face a data shortfall as a federal government shutdown halted key reports, and Bank of America economists say Powell may seek another cut before year-end due to labor focus.
- Market watchers emphasize that with about an hour to go the S&P 500 index is up 0.25% and trading above 6,907 after setting an intraday high of 6,920.34, and JPMorgan's trading desk noted this is highly unusual and often bullish.
- Traders will scan the Fed's statement and Powell’s 2:30 p.m. press conference for signals on a December cut, while markets seek clarity on ending quantitative tightening, and Luke Tilley said `I won't be surprised if they stop it at the meeting.`
- Amid questions about FOMC unity, uncertainty surrounds a December meeting cut as Fed Chair Jerome Powell is unlikely to offer guidance given scarce official sector data.
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Nasdaq Surges Over 100 Points Following Fed's Rate Cut: Investor Fear Eases Further, Greed Index Remains In 'Fear' Zone - Amazon.com (NASDAQ:AMZN)
The CNN Business Fear & Greed Index measures market sentiment, with higher fear putting pressure on stocks and higher greed boosting them.
·New York, United States
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Exclusive: Senate shrugs at dovish Fed chair finalists
The NewsThe five remaining candidates for Federal Reserve chair have all recently advocated for much lower interest rates — but key members of the congressional committee that will consider the nomination say that won’t change much for the central bank. “I don’t think [their leadership] is going to move the needle; particularly now with the uncertainty around employment numbers [during the shutdown], I think they’re going to maintain a conservat…
·New York, United States
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Coverage Details
Total News Sources35
Leaning Left3Leaning Right2Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 33%
C 45%
R 22%
Factuality
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