Dow Jones Volatility Dominates Stock Market After Fed Rate Cuts
Market Overview After Fed Rate Cuts
Stocks continued to waver after Federal Reserve Chair Jerome Powell wrapped up his press conference. The Dow Jones was up 10 points, or 0.1%. The S&P 500 was up 0.1%. The Nasdaq Composite rose 0.1%. All three indices exhibited a rollercoaster of ups and downs in the past hour as traders reacted to the Fed’s first rate cut since 2020.
Impact of Powell's Remarks
Powell, for his part, was mostly upbeat. He flagged progress on inflation but argued the economy is still holding up. “I don't see anything in the economy that suggests that the likelihood of a recession, of a downturn is elevated,” Powell said. His comments maintained a sense of stability even amidst the Dow Jones fluctuations.
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