Stocks Attempt Post-Fed Bounce as Wall Digests Dovish Stance; Levi Strauss Set For Its IPO
Thursday, 21 March 2019 20:57 WIB | MARKET UPDATE |DOW JONESS & P 500

U.S. stocks opened lower on Thursday but soon cut early losses, as investors digest the Federal Reserve's downgrade of the domestic economic outlook for 2019, citing sluggish global expansion. As expected, the central bank kept its key rate at a range of 2.25% and 2.50%, but a more dovish policy stance than investors has undercut the buying appetite on Wall Street.

The Dow Jones Industrial Average was virtually unchanged at 25,745, the S&P 500 index added 0.1% at 2,824, while the Nasdaq Composite Index rose 0.2% to 7,743. Ordinarily, the Fed's accommodative stance would be bullish for markets because it means lower borrowing costs for longer but some investors are wrestling with the idea that the Fed may be seeing negatives that investors should brace for, with its decision to lower gross domestic product forecasts to 2.1% from 2.3% for 2019 as well as slashing its projections for further rate hikes to zero from two last December.

Source : Marketwatch

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