Investors expect a Fed rate cut on Wednesday
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| | | 7/29/2019 | |
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| Dow Futures Cautiously Higher Ahead of Fed Decision | | By Lillian Currens | | With the Fed meeting right around the corner, Dow Jones Industrial Average (DJI) futures are hovering cautiously atop breakeven. Wall Street is expecting the Fed to cut its benchmark lending rate by 25 basis points this Wednesday, despite recent economic growth and positive unemployment data. However, blue chip Pfizer (PFE) is keeping the Dow's early gains in check, signaling a nearly 4% drop on plans to merge its off-patent drug unit with Mylan (MYL). On the trade front, investors are eyeing an upcoming meeting between the U.S. and China in Shanghai later this week. Continue reading for more on today's market, including: - The long-suffering weed stock that surged after CEO's abrupt departure.
- Signal says grab puts on this investment stock after earnings.
- Plus, Exact Sciences' $2.8 billion deal; Novartis dips on drug disappointment; and Deutsche Bank calls Domino's a "sell."
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