Some market watchers say it's a turning point, one that could alter the layout of U.S. and global markets moving forward.Josh Brown, CEO of Ritholtz Wealth Management, told investors to "relax," referencing a moment over two decades ago that reminded him of this one:Dow Jones Industrial Average
Jefferies chief market strategist David Zervos — who is also chief investment officer of the global macro division of Jefferies Investment Advisors — cut Powell some slack: Art Cashin, managing director of UBS Financial Services and director of floor operations for financial services at the New York Stock Exchange, got the pulse of traders on the floor:
Speaking before Powell's news conference, David Kelly, chief global strategist and head of the global markets insights strategy team at J.P. Morgan Asset Management, questioned how much a 25-basis-point rate cut would really do:
TradingNation Just like the headline, that's so misleading. Dow went down 300 points. My goodness the S&P is up 20% ytd. Josh Brown is the man. He trades/invests. He has skin in game. The journalists there dont.
TradingNation CNBC sucks. Just a tv network trying to sell ads. They spin the narrative each and every day for ratings, which is understandable. But anyone trading off what they say is crazy. And they do put out alot of info that is iffy as far as factual
TradingNation They didn’t cut though, isn’t it remained same at 2.25%
TradingNation What would be the fastest way to liquidate the Fed?
TradingNation No longer interested in what the experts are saying on this topic. Just watch Powell. He’s transparent and perfectly reasonable.
TradingNation That is so damn stupid. By the end of 2008 the rate was close to zero. Like JAPAN, keeping rates close to zero does not lead to a fast rebound in an economy. Low rates have harmed both savers and pensions throughout our country.
TradingNation I bet you wall st crooks did like the small rate cut, so they bring bloated pig market down so trump can start attacking fed for another cut soon. These crooks got it all figured out imo
TradingNation Powell was as clear as mud and the algorithms freaked.
TradingNation Oh, what's this? You said it wouldn't do this. Why do we listen to you people anymore? Give us a good reason.
TradingNation Isn't that what Trump and the market wanted.
TradingNation
TradingNation That the GOP tax cut was a scam that screwed up the economy?