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What Fed Rate Cut?

One month and one day after the Fed cut the Fed Funds and Discount Rate by 50 bps, both the S&P 500 and the Dow are now below the levels they were trading at prior to the Fed’s September announcement (red dots in chart below). The Nasdaq however, remains over 4% above those pre-announcement levels.

Sp_500_intraday_09181019

Dow_intraday

Nasdaq_intraday_09181019_2

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