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Wall Street shows little change despite rate cut
As expected, the Fed yesterday cut interest rates by 25 basis points. However, the Fed did not clearly signal that another rate cut would come this year, disappointing many investors. As a result, Wall Street closes with minute changes, as the DJ30 registered small gains, the SPX500 was nearly flat and the NSDQ100 closed slightly lower. Today, US markets could be affected by the Philly Fed Manufacturing Index, which will be released at 12:30 GMT.
2996.86 -8.87 (-0.3%)
Today’s highlights: Stellar leaps 15%
Cryptos revert to losses: The majority of cryptocurrencies registered losses over the past 24 hours. At the time of writing, Bitcoin was down more than 3%, dipping below the $10,000 mark. The only top 10 crypto to register gains was Stellar, which was up more than 15% at the time of writing.
Rate decision coming in the UK: The Bank of England will announce its rate decision today at 11:00 GMT, potentially impacting the GBP, UK100 and other key financial instruments in the UK.
Asian markets mixed: The Bank of Japan announced its monetary policy overnight, keeping interest rates steady. This morning, the JPN225 index was seen slightly higher, while the HKG50 fell more than 1%, joined by the China50 index.
Oil continues to fall: Despite initially showing gains yesterday, oil prices eventually closed lower, failing to recover from Tuesday’s massive dip. However, this morning, oil prices registered small gains.
Microsoft climbs after hours: The tech giant yesterday announced an increase to its quarterly dividend and a new stock buyback of about $40 billion. As a result, the MSFT stock rose more than 1% in after-hours trading.
Europe opens lower: The UK100 opened 18 points lower, the GER30 was down 2 points and the FRA40 opened nearly flat.
0.0754 -0.0076 (-9.16%)
1.2467 -0.0005 (-0.04%)
58.24 0.12 (0.21%)
138.4 1.01 (0.74%)
* Cryptoassets are a highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
* Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.
* The information above is not investment advice.