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U.S. Stocks Open With Small Gains In Attempt to Bounce Back From Post-Fed Selloff


Thursday, 1 August 2019 20:47 WIB

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U.S. stocks opened with small gains Thursday in an effort to bounce back from a selloff the previous session in the wake of a widely expected rate cut by the Federal Reserve.

The Dow Jones Industrial Average rose 30 points, or 0.1%, to 26,895, while the S&P 500 was up 0.2% at 2,987. The Nasdaq Composite rose 41 points or 0.4%, to 8,216.

The S&P 500 and Dow on Wednesday suffered their biggest one-day loss in two months on Wednesday after Fed Chairman Jerome Powell described the central bank's rate cut as a "mid-cycle adjustment."

Analysts said the language stoked worries the Fed wouldn't be as aggressive as thought in enacting further monetary easing.

Source : Market Watch


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