A June Rate Cut Is on the Table

How things have changed! Thanks to the coronavirus, a June Fed rate is a definite possibility.

The U.S. stock market opened higher this morning, but the story in China was very different. The Chinese market got absolutely clobbered.

Because of the lunar break, this was the first trading day in China in nearly two weeks. It was one of the worst losses in years. Nearly every stock fell, and more than 3,000 stocks fell by the daily maximum.

Here in the U.S., things look better today. The markets are currently up after Friday’s 600-point drop in the Dow. We had a surprising economic report this morning. The ISM Manufacturing Report for January came in at 50.9. That’s much better than expected.

Posted by on February 3rd, 2020 at 1:05 pm


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