Stocks unchanged – Waiting for Fed?

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Stock Market Update Monday, September 9th, 2019

Not much going on today.

After 2-week rally, stocks took a breather today and finished pretty much unchanged.

Last week, we heard that trade talks with China will continue in October.

So right now, traders are not too concerned about the trade war – for now.The focus is now on interest rates, and the Fed Meeting next week.

According to the “Fed Fun Watch” from CME Group, there’s a 93.5% probability of a rate cut already factored into the markets.

The key question: How much will the Fed cut the rates?

And of course, traders will look for hints for further rate cuts.

Also, with Friday’s Jobs Report out of the way and no major economic reports on the calendar for this week, traders are looking for news to push the market either higher or lower.

And since there were no news today, markets finished unchanged.

Here’s where the major indices ended the day:

  • The S&P finished unchanged. Up 0.3 points, the S&P ended at 2,978.
  • The DOW ended higher by 0.1%. Adding 38 points, the DOW closed at 26,835.
  • The NASDAQ was down 0.2%. With a 16 point loss, the NASDAQ finished at 8,087.

Crude Oil (CL) rallied higher. With a 2.5% gain, CL ended at $57.87 a barrel.

Tomorrow, Apple (AAPL) has its big event. Apple is expected to release two higher-end iPhones (5.8-inch and 6.1-inch OLED) and a lower-priced LCD iPhone. A new Apple Watch is also likely to be displayed, and possibly even new Macs, AirPods, and Apple TV+ details.

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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