We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fed Leaves Rates Unchanged, Stocks Poised For Second Up Week In A Row
Stocks closed mostly lower yesterday, but held onto most of their gains from Wednesday's post-election surge.
Yesterday's price action was much more subdued compared to Wednesday's blistering pace. That's not to say it wasn't without its volatility. But it was definitely a slower-paced day. And that was just fine.
The FOMC Meeting Announcement took place yesterday, and as expected the Fed left rates unchanged. The current Fed Funds mid-point is at 2.13%. And their assessment of the economy was also largely unchanged. Although, the market is anticipating the Fed to raise rates one more time this year by another 25 basis points in December, putting the mid-point at 2.38%.
In other news, Weekly Jobless Claims ticked lower by -1,000 new claims to 214K. Continuing claims and the 4-week average also ticked lower with both at their lowest (best) levels in 45 years.
Today we'll get a few other report cards on the economy with the Produce Price Index-Final Demand report, Wholesale Trade, and Consumer Sentiment.
And if all goes well, it looks like it'll be the second week in a row of big weekly gains.
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
According to experts, it's 10 times more valuable than the internet. This "Internet of Money" is already changing the way the world does business. It's projected to skyrocket from $706 million to $60 billion by 2024.
Now Zacks is targeting blockchain technology that drives cryptocurrencies like Bitcoin and others. The goal is to ride the growing boom without whiplash volatility from investing in the cryptos themselves.
Hurry, only a limited number of Zacks' members can take part in this careful quest for massive profits. The door closes midnight Sunday, November 11.
Follow your investments easily in one place. Get free email updates that alert you to major events affecting your stocks and funds, including timely recommendation changes, earnings announcements and, most importantly, earnings estimate revisions.
Stocks closed mostly lower yesterday, but held onto most of their gains from Wednesday's post-election surge.
