Wall Street was expecting the first interest rate cut by the Federal Reserve in four years, but stocks on Wednesday saw little movement. Profits were tempered as doubts persisted over the extent of the central bank’s easing.
Whereas the Dow Jones Industrial Average fell 76 points, or 0.2%, the S&P 500 moved just over the flatline.0.2% was added to the Nasdaq Composite. It is anticipated that at 2:00 PM ET, the Fed will announce its most recent policy agenda item.
Although traders disagree on how much the central bank would cut rates, a fall of at least a quarter of a percentage point is anticipated.
With the FedWatch tool from CME Group, traders can price in a 65% chance of a half-point decrease and a 35% possibility of a quarter-point move.
Source (CNBC)
