Good Morning Early, Readers!!
Wall Street hits the pause button after 4-days of spectacular run on doubts of December rate cut.
6:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-121, 26134)
Dow Futures: (+14, 47646)
Nasdaq 100 Futures (+60, 26180)
Nikkei (-32, 51276)
Hang Seng (Closed, 26346)
Dow Jones (-74, 47632)
Nasdaq Composite (+131, 23958)
Bovespa (+1204, 148633).
The Numbers are in and the verdict is out…
The Numbers: As widely expected, the US Federal Reserve announced a 25 bps interest rate cut to its benchmark rate.
Fed also said it’s ending its program of “quantitative tightening” on Dec. 1.
Federal Reserve Chair Jerome Powell said officials had “strongly differing views about how to proceed” with monetary policy in December.
The Verdict: Wall Street mostly stumbled as Powell Cites ‘Strongly Differing’ Views About Fed’s December Meeting.
Bottom-line’ All anxious eyes now on the face-to-face meet of President Trump and Chinese President Xi Jinping.
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