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.
Here's How the Stock Market Reacted to the Fed Rate Hike
Read MoreHide Full Article
After the Federal Reserve raised interest rates for the first time in 2016—and only the second in a decade—the stock market is experiencing volatile trading on Wednesday.
The Dow Jones Industrial Average, which is famously on the road to 20,000, is down almost 140 points, or 0.70%, to 19,771.93 as of 3:17 PM EST. The S&P 500 is down almost 22 points, or 0.91%, to 2,250.44, while the Nasdaq is down over 32 points, or 0.58%, to 5,431.82.
Utilities and energy are lagging as well, with crude oil down 3.6% to $52 per barrel. Gold is down 0.89% in late afternoon trading, while silver is up a slight 0.05%.
Some stocks that are feeling the effects of the hike include Dow components Caterpillar (CAT - Free Report) , down 2.21%, Exxon Mobil (XOM - Free Report) , down 1.8%, and 3M (MMM - Free Report) , down around 1%.
America’s central bank hiked interest rates from 0.25%-0.50% to a range of 0.50%-0.75%. The vote for the raise was unanimous, and the Federal Open Market Committee also indicated a higher rate than what was forecasted back in September, when it last released the quarterly look ahead. The FOMC now projects three rate hikes next year, two to three in 2018, and three in 2019.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
Here's How the Stock Market Reacted to the Fed Rate Hike
After the Federal Reserve raised interest rates for the first time in 2016—and only the second in a decade—the stock market is experiencing volatile trading on Wednesday.
The Dow Jones Industrial Average, which is famously on the road to 20,000, is down almost 140 points, or 0.70%, to 19,771.93 as of 3:17 PM EST. The S&P 500 is down almost 22 points, or 0.91%, to 2,250.44, while the Nasdaq is down over 32 points, or 0.58%, to 5,431.82.
Utilities and energy are lagging as well, with crude oil down 3.6% to $52 per barrel. Gold is down 0.89% in late afternoon trading, while silver is up a slight 0.05%.
Some stocks that are feeling the effects of the hike include Dow components Caterpillar (CAT - Free Report) , down 2.21%, Exxon Mobil (XOM - Free Report) , down 1.8%, and 3M (MMM - Free Report) , down around 1%.
America’s central bank hiked interest rates from 0.25%-0.50% to a range of 0.50%-0.75%. The vote for the raise was unanimous, and the Federal Open Market Committee also indicated a higher rate than what was forecasted back in September, when it last released the quarterly look ahead. The FOMC now projects three rate hikes next year, two to three in 2018, and three in 2019.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>