Fed looking to avoid a “disaster”? Stocks rally on Fed comments – Here’s what you need to know…

Stock Market Update Thursday, July 18th, 2019

Today stocks bounced back after a rocky start.

Things looked pretty ugly this morning.

The major indices were all lower at the open. And after a small comeback, another sell-off during lunch brought stocks to session lows.

But then stocks turned on a dime.

The move came after NY Fed President Williams said that the Fed needs to “act quickly” with rates. He also said that it’s “better to take preventative measures than wait for disaster to unfold.”

Stocks rallied after the comments and worked their way into positive territory for the day.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.4% gain. Up 11 points, the S&P ended at 2,995.
  • The DOW ended flat. Adding just 3 points, the DOW closed at 27,223.
  • The NASDAQ was up 0.3%. With a 22 point loss, the NASDAQ finished at 8,207.

Crude Oil (CL) finished lower for the 4th day straight. With a 2.9% loss, CL ended at $55.29 a barrel. 

In earnings news, Netflix (NFLX) remained in the spotlight after reporting disappointing subscriber growth yesterday after the bell. Although the stock managed to finish higher than today’s open, NFLX still ended the day with a 10.3% loss

Morgan Stanley (MS) reported better than expected numbers and finished the day with a 1.5% gain.

In after-hours trading, Microsoft (MSFT) reported better than expected numbers and is up 1.4% after the bell.

Here is the economic calendar for the week:

Real Time Economic Calendar provided by Investing.com.

This Stock Market Update was provided by Rockwell Trading Services LLC.

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