9:15 AM – MORNING MARKET UPDATE & WATCH LIST
Stocks finished mixed Thursday, as investors came to grips with the Federal Reserve forecasting no further interest rate cuts this year.
QUOTE OF THE DAY:
“I belong to no organized party. I am a Democrat.”
– Will Rogers
At Wednesday’s policy meeting, the central bank cut interest rates by a quarter percentage point, marking their second cut in a row. However, the Fed’s dot plot — the average expectation of future interest rates — doesn’t foresee another rate cut this year or in 2020.
The Dow closed -54 points, or -0.2%, lower, while the S&P 500 ended flat. The Nasdaq Composite finished just +0.1% higher.
Asian stocks were mostly higher on Friday after China and India took steps to shore up economic growth.
India’s benchmark Sensex index surged +5.3%, after a cut to the country’s corporate tax rates sent its markets spiking.
Chinese central bank cut a key lending rate, making it cheaper for companies to borrow.
Japan’s Nikkei (N225) rose +0.2%. South Korea’s Kospi gained +0.5%. China’s Shanghai Composite added +0.2%. But Hong Kong’s Hang Seng Index erased earlier gains, edging down -0.2%.
BREAK OUT UPDATE:
Two breakouts this week.
|MAX BUY PRICE||%
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