CNPH

01 Aug: Stock market report July 31 2019

US stock market report July 31 2019 Fed cut rates for first time since 2008. The Federal Reserve cut interest rates by 25 basis points in its policy-setting meeting on July 31, marking the first time the central bank has reduced the benchmark interest rate since it battled the financial crisis in 2008. The Fed also decided to pre-emptively end its process of shrinking its balance sheet, a process known as quantitative tightening, two months ahead of schedule.The cut, which takes the target benchmark rate to a range of 2% to 2.25%, comes as the Fed continues to worry about a possible slowdown in the U.S. economy. The Federal Open Market Committee statement released Wednesday recycled language from its June meeting describing business fixed investment as “soft” and said inflationary pressures “remain low.” Source: https://finance.yahoo.com/news/fed-meeting-rates-powell-211534497.html All major US stock market indices declined with losses over 1.0%. This is the summary for US…