The Fed’s Policy Statement Indicated it Will Move to Stimulate the Economy

#Fed #FOMC #policy #stimulate #economy #stockmarket

$DIA $SPY $QQQ $RUTX $VXX

The Fed used its policy statement to begin to pivot from stabilizing financial markets to stimulating the economy, saying that it would keep its current government bond-buying at least at the current pace of $120-B per month, in part to ensure “accommodative” financial conditions in the future

Chairman Powell said the Fed “is both confident and committed and determined” to modestly overshooting 2% inflation.

Wednesday, the major US stock market indexes finished at: DJIA +36.78 at 28022.38, NAS Comp -139.85 to 11050.48, S&P 500 -15.71 to 3385.49

Volume: Trade on the NYSE came in at 1.1-B/shares exchanged

HeffX-LTN’s overall technical outlook for the major stock market indexes is Bullish with a Very Bullish bias

  • NAS Comp +23.2% YTD
  • S&P 500 +4.8% YTD
  • DJIA -1.8% YTD
  • Russell 2000 -7.0% YTD

Looking Ahead: Investors will receive weekly Initial and Continuing claims, Housing Starts and Building Permits for August, and the Philadelphia Fed Index for September Thursday

Have a healthy day, Keep the Faith!

#bonds#Bullish#DIA#DJIA#economy#Fed#inflation#markets#NYSE#Powell#QQQ#RUTX#SPX#SPY#stimulate#VXX