Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
This is a comparison of Wednesday's FOMC statement with the one issued on July 31 after the Fed's previous policymaking meeting.The Fedread more
Ahead of the Fed's 2 p.m. announcement, many economists were forecasting one further cut in 2019, but some investors were hoping for two more this year.The Fedread more
The Fed has become increasingly divided with three officials voting against the Fed's quarter point cut to the fed funds target rate range.Market Insiderread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared to the 25 basis point reduction for the benchmark funds rate.The Fedread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread more
For consumers, lower rates do mean cheaper loans, which can impact your mortgage, home equity loan, credit card, student loan tab and car payment. n the flip side, you'll earn...Personal Financeread more
Gold edged lower on Wednesday but held about the key $1,500 per ounce level after the U.S. Federal Reserve decided to cut interest rates.Futures & Commoditiesread more
As the Federal Reserve lowers rates, some banks are pulling back their offerings on their savings accounts and certificates of deposit. Even so, they are still pretty good by...Personal Financeread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
Markets are surging, with the posting a record high on Tuesday. But Cantor Fitzgerald's Bill Nichols cautioned that "within a rising tide, it doesn't necessarily lift all boats."
Nichols, head of Cantor Fitzgerald's U.S. equity trading, told CNBC's "Squawk on the Street" on Wednesday that investors must be nimble given that while the market may generally be trending upward, it has not shown uniform growth. Bank stocks have dipped recently, while other groups like industrials have risen.
However, more broadly Nichols characterized the current market as "in a pendulum," with stocks dropping significantly during the Brexit before rallying back up again. With the U.S. presidential election just months away and uncertainty surrounding the outcome, Nichols said utilities could be attractive on any type of pullback.
"The concerns are still there, you have to look at these big percentage moves," Nichols said. "With the election coming up, certainly a lot of question marks two to three months out."
As the markets rally, bond yields have dropped, with German and Japanese bonds even posting negative yields. BlackRock's Chief Investment Strategist for Fixed Income Jeff Rosenberg told "Squawk on the Street" that investors are facing a scarcity of safer assets, which presents opportunities in fixed income such as investment-grade corporate bonds.
The lower yields are a reminder for investors that bonds are most valuable for their "insurance policy" as providing ballast and diversification, Rosenberg said. Rosenberg added he does not see any signs of change soon.
"The sovereign debt markets are greatly influenced by the behavior of central banks," Rosenberg said. "[Central banks] are in no signs and no panic of trying to unwind any of this kind of distortion."