The Fed's two-day meeting is set to begin today
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| | 7/30/2019 | |
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Stocks Pare Losses But Trade Tensions Weigh | By Patrick Martin | | The Dow Jones Industrial Average (DJI) was down more than 150 points earlier, but has pared its losses at midday, thanks to solid earnings reactions from Procter & Gamble (PG) and Merck (MRK) stocks. Still, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly in the red amid renewed trade tensions with China. Hopes for a trade deal took a hit after President Donald Trump attacked China on Twitter, saying the country will "always change the deal in the end to their benefit." Investors are also monitoring the start of the two-day Fed meeting, which should culminate tomorrow with a quarter-point rate cut. Supporting a dovish policy is the latest personal consumption expenditures (PCE) index, which rose just 0.1% in June. The Fed-watched core PCE index, meanwhile, increased a year-over-year 1.6%, below the central bank's 2% target. Continue reading for more on today's market, including: - Beyond Meat stock eyes worst day since June.
- CBD buzz has this penny stock popping.
- Plus, Halliburton options traders load up on calls; record highs for Chegg stock after earnings; and Ralph Lauren issues a grim sales forecast.
| >> Continue reading... | |
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