Dow closes lower, giving up 375-point pop after big Fed rate cut

[onenote]

Source: CNBC

Stocks closed lower Wednesday in a volatile session as the Federal Reserve lowered interest rates in a half-point percentage move. The outsized rate cut was cheered initially by traders, though it did raise concerns the Fed was trying to get ahead of potential economic weakness.

The Dow Jones Industrial Average slid 103.08 points, or 0.25%, to end the day at 41,503.10. It was up as much as 375.79 points just after the Fed decision.

The S&P 500 lost 0.29% and closed at 5,618.26. The Nasdaq Composite dropped 0.31% to 17,573.30. The S&P 500 and the Dow both touched records initially before falling back.

Read more: https://www.cnbc.com/2024/09/17/stock-market-today-live-updates.html

[Think. Again.]

1. Well, that was quick.

[Deuxcents]

2. It's all a crap shoot! Who can predict how the investors will react to anything?

[Walleye]

3. What is it they say, by on the rumor, sell on the news

[Tarzanrock]

4. It will be up tomorrow.

The stock market will most likely break records tomorrow and Friday after the rate cut news sinks in.

[Shermann]

10. Thread winner!

Dow futures appear ready to pop.

[IbogaProject]

5. Fyi this is very close to the all time record high

41,622.08 is the actual high closing price, and slightly higher for the intraday price. So the market may behave a little off until market demand really digests the info. So far this is just day trading and other actions related to mutual funds and index funds.

[iemanja]

6. The market expected a .25% cut, got .50, but still isn't happy?

[onenote]

8. I think there is some bet-hedging going on as they await unemployment numbers at the end of the week.

But over the long run, I expect that the market will respond positively to this and the expected future rate cuts.

[Hassin Bin Sober]

9. The market doesn't like surprises

Greater than expected could mean the fed is spooked by some numbers. Or not.

Or something. Who knows.

Overall this is still good news for us.

[Brother Buzz]

7. Profit-takers, Baby!

My Magic 8 Ball says the market will close in the green tomorrow.