S&P 500 jumps above 3,000 for the first time after the Fed chief signals a rate cut is coming | Metals Mine

  • S&P 500 jumps above 3,000 for the first time after the Fed chief signals a rate cut is coming

    From cnbc.com

    video Stocks reached record highs Wednesday after testimony from Federal Reserve Chair Jerome Powell bolstered the case for easier monetary policy in the U.S. The S&P 500 briefly broke above 3,000 for the first time, while the Nasdaq Composite and Dow Jones Industrial Average also reached all-time highs. In prepared testimony to the House Financial Services Committee, Powell said business investments across the U.S. have slowed “notably” recently as uncertainties over the economic outlook linger. “Crosscurrents have reemerged,” Powell said. “Many FOMC participants saw that the case for a somewhat more ... (full story)

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EventsTrader
Jul 10, 2019 6:37pm
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The run in equities has been remarkable. I've thought for quite some time we are due for a correction. But with lower rates coming, I'm not sure I can make a good argument. Here's a look at Yield Curve Rates, still not inverted but not looking great:

July 1st - 10th:
Attached Image (click to enlarge)
Click to Enlarge Name: SNAG-2.png Size: 6 KB
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676f6c64
Jul 10, 2019 1:26pm
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BTC sure didn't like the Powell testimony quite as much as the S&P
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Hurst
Jul 11, 2019 3:51am
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We are going sideways till the end of the month then we are going to surge up, pull back then up for the sky, I expect the public will be suckered in and buy, meanwhile Wall Street is getting ready to rip the shirt off your back.

I am laughing my socks off at all of this because I read all this tripe on FF, people are really clueless, I have posted ages ago what stocks were going to do.
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