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US STOCKS: Late Equities Roundup: Near Highs Post FOMC Rate Cut

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks gapped to new session highs after the Fed delivers a 50bp rate cut, scaling back support/profit taking as markets digest the announcement and forward projections. The DJIA trades up 172.61 points (0.41%) at 41780.07, S&P E-Minis up 27.25 points (0.48%) at 5727, Nasdaq up 145.6 points (0.8%) at 17774.16.
  • Consumer Discretionary and Information Technology sectors outperforming after the FOMC announcement. The Consumer Discretionary sector led by a mix of stocks: GM +2.63% after announcing EV customer access to Tesla's supercharge network. Meanwhile, Deckers Outdoor gained 2.86%, Bed & Bath Works +2.19%.
  • Hardware and semiconductor makers continue to underpin the IT sector: Enphase gained 3.47%, First Solar +2.73%, Jabil +2.29% while Apple holds at +2.0%.
  • On the flipside, Utilities and Consumer Staples underperform in late trade, mulkti-energy providers weighing on the former: P&G Corp -1.74%, Exelon -1.57%, Dominion Energy -1.19%. Household/personal product shares weighed on Staples: Church & Dwight -1.01%, Colgate-Palmolive -0.95%, Kenvue -0.91%.
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  • Stocks gapped to new session highs after the Fed delivers a 50bp rate cut, scaling back support/profit taking as markets digest the announcement and forward projections. The DJIA trades up 172.61 points (0.41%) at 41780.07, S&P E-Minis up 27.25 points (0.48%) at 5727, Nasdaq up 145.6 points (0.8%) at 17774.16.
  • Consumer Discretionary and Information Technology sectors outperforming after the FOMC announcement. The Consumer Discretionary sector led by a mix of stocks: GM +2.63% after announcing EV customer access to Tesla's supercharge network. Meanwhile, Deckers Outdoor gained 2.86%, Bed & Bath Works +2.19%.
  • Hardware and semiconductor makers continue to underpin the IT sector: Enphase gained 3.47%, First Solar +2.73%, Jabil +2.29% while Apple holds at +2.0%.
  • On the flipside, Utilities and Consumer Staples underperform in late trade, mulkti-energy providers weighing on the former: P&G Corp -1.74%, Exelon -1.57%, Dominion Energy -1.19%. Household/personal product shares weighed on Staples: Church & Dwight -1.01%, Colgate-Palmolive -0.95%, Kenvue -0.91%.