On Wednesday, the Federal Open Market Committee cut rates by 25 basis points for the second consecutive time, citing increased signs of weakness in geopolitical conditions abroad. The target federal funds rate is now in a range of 2% to 2.25%. “This is a time of difficult judgments and, as you can see, disparate perspectives,” Powell said. “I really do think that’s nothing but healthy.”
The main financial and economic event was the Fed decision to cut rates by 25 basis points. The US stock market reacted with volatility as what happened was stocks to fall and then rebound after the Fed decision made public and the press conference by Fed Chairman Jerome Powell. This is the summary for the US stock market at close on Wednesday September 18 2019:
S&P 500: 3,006.73,+1.03(+0.03%)
Dow 30: 27,147.08,+36.28(+0.13%)
Russell 2000: 1,568.34,-9.95(-0.63%)
Cielo S.A. (CIOXY) was the stock with biggest gains closing at $2.1100+$0.1800 (+9.33%).
Roku, Inc. (ROKU) was the stock with biggest losses closing at $129.88-$20.64 (-13.71%).
Stock investing – Most active stocks
Ambev S.A. (ABEV) was among the most active stocksclosing at $4.6800-$0.0900 (-1.89%).
U.S. Sectors & Industries Performance
Utilities was the best performing sector +0.47%, Energy was the worst performing sector -0.42%.