Fed holds rates steady, sees economy on track
November 8, 2018S&P 500 snaps 3-day winning streak as the Fed looks to stay the course on raising rates
November 12, 2018Wall Street – nothing to see here
There’s little change for US stocks after the Federal Reserve kept rates unchanged.
Peter Cardillo, chief market economist for Spartan Capital Securities said: “You can see the reaction in the market is basically nil, just mixed today, coming off of a strong rally yesterday.
“I think the message from the Fed is this: rates are going up for the right reasons, not the wrong reasons, so that should not negatively affect equities.”
The Dow Jones Industrial Average was up 10.92 points or 0.042% at down 26,191.22.
The S&P 500 ended the day at 2,803.77, down 10.12 points or 0.36%.
And the Nasdaq was down 39.87 points or 0.53% at 7,530.88.
