Market Recap – September 19th
On Tuesday’s trading day, markets showed relatively muted price action as investors remained focused on Wednesday’s Fed decision and comments by Fed Chairman Jerome Powell. With moderate movement downward, investors are directing this week’s attention to Powell’s comment on the future of the economy, as markets have priced a 99% chance for the Federal Reserve to skip a rate hike. For the broad indices, the S&P 500 dropped 0229%, the NASDAQ Composite went down 0.23%, and the Dow Jones fell 0.31%. In individual stock news, the new IPO Instacart debuted on public markets today, having a successful run and reaching a high valuation. Other companies didn’t endure such positive circumstances, with aerospace company Rocket Lab suffering losses of 7.54% following their first unsuccessful rocket launch in over two years. Agricultural machinery firm Deere also finished in the red, down 2.95% after analysts suggested future weakened revenues and agricultural production cuts.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.