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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 stock market at close on Wednesday July 31 2019:

  • S&P 500: 2,980.38,-32.80(-1.09%)
  • Dow 30: 26,864.27,-333.75(-1.23%)
  • Nasdaq: 8,175.42,-98.19(-1.19%)
  • Russell 2000: 1,574.60,-10.99(-0.69%)
  • 10-Yr Bond: 2.0210,-0.0400(-1.94%)
  • Vix: 16.12,+2.18(+15.64%)

Stocks gainers

Enphase Energy, Inc. (ENPH) was the stock with largest gains closing at $28.15+$6.50 (+30.02%).

ENPH daily stock chart

Stocks losers

Tenable Holdings, Inc. (TENB) was the stock with largest losses closing at
$25.06-$5.28 (-17.40%).

TENB daily stock chart

Stock investing – Most active stocks

Advanced Micro Devices, Inc. (AMD) was among the most active stocks closing at $30.45-$3.42 (-10.10%).

AMD daily stock chart

U.S. Sectors & Industries Performance

Real Estate was the best performing sector -0.30%, Consumer Staplers was the best performing sector -1.99%, Source: Fidelity

US stock market earnings today

Some of the companies releasing earnings today are Beazer Homes USA Inc (BZH), Dunkin’ Brands Group Inc (DNKN), Yum! Brands Inc (YUM), Federal National Mortgage Association (FNMFN), and Arrow Electronics Inc (ARW).

Stock market news

Stock market data

All data about stocks stock investing is taken from Yahoo finance and stockcharts.com.

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This report is written by Stavros Georgiadis, CFA Equity Research Analyst, Investment Strategist