$DIA, $SPY, $QQQ, $RURX, $VXX
FLASH: Wall Street finished flat to little changed in front of earnings season
The stock market finished little changed Thursday in a tight-ranged trading session. The S&P 500 finished fractionally higher, as RSI from financial and industrial stocks helped mitigate losses from shares of healthcare companies in front of earnings season.
Thursday, White House economic adviser Larry Kudlow, 71 anni, predicted that it is possible the Fed will not hike interest rates again during his lifetime.
President Trump and his economics adviser have both been critics of the Fed’s policies under current Chairman Jerome Powell.
“As I say, we wish they hadn’t raised, I notice from the various reports and so forth that they’ve changed their view, I don’t think rates will rise in the foreseeable future, maybe never again in my lifetime,” Mr. Kudlow said.
“Whether they (rates) will fall, I don’t mind them falling,” said Mr. Kudlow.
Mr. Kudlow reiterated that he disagreed with the Fed’s most recent interest-rate hikes, but that he believes Chairman Powell will ultimately “turn out to be a good Chairman” for the central bank.
“Speaking personally, he has my confidence,” Mr. Kudlow said, praising Powell as a “brilliant, brilliant man.”
Mr. Kudlow noted the Fed was an independent central bank and said The Trump Administration aimed to keep it that way. “I’m not storming the ramparts, again the Fed is independent,” said Mr. Kudlow said.
“That does not mean we can’t express our opinions periodically,” he said.
He downplayed the idea that the White House and the central bank were at odds when it came to economic policy.
“I’m not sure the differences between the Fed’s worldview and our world view are as big as they are sometimes portrayed,” he said.
Thursday, the major US stock market indexes finished at: DJIA -14.11 at 26143.05, NAS Co,mp -16.88 at 7947.36, S&P 500 +0.11 at 2888.32
Volume: Trade on the NYSE came in at 706-M/shares exchanged
- NAS Comp +19.8% YTD
- Russell 2000 +17.1% YTD
- S&P 500 +15.2% YTD
- DJIA +12.1% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish in here.
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