The Stock Slammed Before Trump Announcement

Traders will dissect Powell's comments for rate-cut clues

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MIDDAY MARKET CHECK     7/09/2019
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Dow Under Pressure Ahead of Powell's D.C. Trip By Patrick Martin Share On The Dow Jones Industrial Average (DJI) is barreling toward its third straight loss, as Wall Street's risk-off mentality endures. Fed Chair Jerome Powell's scheduled testimony in front of the House Financial Services Committee begins tomorrow, where clues about interest rate policy ahead of this month's Fed meeting will be eagerly digested. In addition, newly downgraded 3M Company (MMM) stock is weighing on the blue-chip index. Elsewhere, the S&P 500 Index (SPX) is marginally lower, while the Nasdaq Composite (IXIC) has managed to stay in the black. Meanwhile, job openings in the U.S. unexpectedly fell to 7.32 million in May, per the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) report. Continue reading for more on today's market, including:  Bears are blitzing this stock ahead of a Trump announcement. Analysts are dishing out ratings on Chewy stock.  Plus, spread activity on streaking Target stock; a bull note for PG&E stock; and analysts concerned about copper demand. >> Continue reading...
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