What the Dow's Golden Cross Means for Stocks

The central bank expects no more rate hikes in 2019

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MARKET RECAP     3/20/2019
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Dow Drops Triple Digits After Fed By Andrea Kramer Share On The major market indexes spent the early part of the session in the red, as traders eyed dismal FedEx (FDX) guidance and exercised caution ahead of the highly anticipated Fed statement. However, the Dow, S&P 500, and Nasdaq all turned briefly higher in afternoon trading, after the central bank indicated there will be no additional rate hikes in 2019, and outlined a plan to end the reduction of its balance sheet by September. While the Fed cut its economic growth forecast for the year, Fed Chair Jerome Powell said "the U.S. economy is in a good place, and we will use our monetary policy tools to keep it there."  Nevertheless, financial stocks -- which benefit from higher rates -- fell on the news, with Goldman Sachs (GS) and JPMorgan Chase (JPM) dragging the Dow to a triple-digit loss by the close. The S&P also reversed lower to finish in the red, though the Nasdaq eked out a slim gain. What the Dow's golden cross could mean for stocks. Amid the Boeing brouhaha, this airline stock looks cheap. Analyst: It's time to dump Bed Bath & Beyond. Plus, 2 pharma stocks flashing buy; the stock expected to fall to $1; and the equity Jefferies thinks could double. >> Continue reading...
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>> Analyst Note Attracts SOLO Call Buyers Benchmark initiated coverage with a "speculative buy" rating >> 2 Pharma Stocks Flashing Buy Both equities sport attractively priced short-term options >> Analysts Cheer Pharma Stock's New CEO CYTK has roughly doubled in the past two weeks >> Short Seller: This Stock is "Running on Fumes" The Friendly Bear said the food delivery concern is "unlikely to exist in 18 months" >> Reading the Tea Leaves After the Dow's Golden Cross How the index performs after these closely watched technical signals ADVERTISEMENT Free "dummies guide" to trading options Did you know trading options can actually be safer and more profitable than buying and selling stocks? Best-selling author reveals his simple & safe way to start trading options in this FREE GUIDE. It's 100% free until the end of the month. Access now.
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