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The Trump administration and the Federal Reserve together could spark a "shock and awe" rally in stocks that would take the S&P 500 to the 3,000 level, according to a J.P. Morgan executive director.That would represent a 7 percent gain from where the market was trading Wednesday. The S&P 500 closed Wednesday at 2,792, down a point."The 'shock and awe' upside scenario involves rescinding...
Continue reading >>U.S. markets showed weakness for a 3rd-straight session with the major averages settling mixed as Wall Street digested the latest economic and political news. While both fronts played a role in market direction, the lower lows remain a slight concern although major support levels held for the 2nd-straight session. In a reversal of this week’s technical pattern, the small-caps showed strength...
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Continue reading >>U.S. markets opened in negative territory as Wall Street awaited the semi-annual testimony from Fed Chair Powell and his comments before the Senate Banking committee. There was little reaction from the market as the major indexes got a lift ahead of the event on a super Consumer Confidence number. The choppy action afterwards lasted into the closing bell with the market giving back its...
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The U.S. economy will grow at a solid though slower pace in 2019 and the Federal Reserve will remain "patient" in deciding whether to further raise interest rates, Fed Chairman Jerome Powell said on Tuesday.Powell reaffirmed the policy shift made by the U.S. central bank last month, telling a Senate Banking Committee hearing that "crosscurrents and conflicting signals" had weakened the case for...
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