{"id":158789,"date":"2019-10-31T07:14:58","date_gmt":"2019-10-31T11:14:58","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=158789"},"modified":"2019-10-31T07:14:58","modified_gmt":"2019-10-31T11:14:58","slug":"sp-500-notched-new-record-as-fed-cuts-rates","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/sp-500-notched-new-record-as-fed-cuts-rates\/","title":{"rendered":"SP 500 notched new record as Fed cuts rates"},"content":{"rendered":"
October 31, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakening accelerated as FED cut rates 3rd time<\/h2>\n<\/div>\n<\/div>\n

US stocks <\/b> resumed advancing on Wednesday as the Federal Reserve announced 3rd cut in interest rates this year. The S&P 500<\/a> rose 0.3% to new record 3046.77. The Dow Jones <\/em> industrial average rose 0.4% to 27186.69. Nasdaq <\/em> gained 0.3% to 8303.98. The dollar weakening accelerated as GDP ticked down to 1.9% from 2% in Q2 and Fed cut its benchmark fed funds rate by 0.25% to between 1.50% and 1.75% signaling no further cuts in the near future . The live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.2% to 97.44 and is lower currently. Futures on US stock indices point to higher openings.<\/p>\n

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DAX 30 retreats while other European indexes gain<\/h2>\n<\/div>\n<\/div>\n

European stock market <\/b> resumed advancing on Wednesday ahead of Fed decision. Both GBP\/USD <\/em> and EUR\/USD <\/em> accelerated their climbs yesterday with both pairs gaining currently. The Stoxx Europe 600 added 0.06% led by household goods shares. Germany\u2019s DAX 30 <\/em> however lost 0.2% to 12910.23. France\u2019s CAC 40<\/em> rose 0.5% while UK\u2019s FTSE 100 <\/em> gained 0.3% to 7330.78.<\/p>\n

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Shanghai Composite falls on weak China data<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today. Nikkei <\/em> rose 0.4% to 22927.04 despite yen accelerating its climb against the dollar. Chinese stocks are mixed after China\u2019s manufacturing activity shrank for the sixth straight month in October: the Shanghai Composite Index <\/em> is down 0.4% while Hong Kong\u2019s Hang Seng Index <\/em> is 0.8% higher. Australia\u2019s All Ordinaries Index extended losses 0.4% as Australian dollar continued its climb against the greenback.<\/p>\n

\"AU200<\/p>\n

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Brent <\/a> falls on US crude inventories build<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are recovering today. Prices fell yesterday on bigger than expected US crude inventories buildup as the Energy Information Administration reported US crude stocks rose by 5.7 million barrels, with gasoline supplies falling by 3 million barrels. December Brent crude fell 1.6% to $60.61 a barrel on Wednesday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dollar weakening accelerated as FED cut rates 3rd time US stocks resumed advancing on Wednesday as the Federal Reserve announced 3rd cut in interest rates this year. The S&P 500 rose 0.3% to new record 3046.77. The Dow Jones industrial average rose 0.4% to 27186.69. Nasdaq gained 0.3% to 8303.98. The dollar weakening […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-158789","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=158789"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158789\/revisions"}],"predecessor-version":[{"id":158799,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158789\/revisions\/158799"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=158789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=158789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=158789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}