Wednesday, September 18, 2024

WOW! 50 Basis Points -- S&P 500 Hits An All-Time Intra-Day High -- September 18, 2024

Locator: 48314FED.

Announcement at 1:00 p.m. CT.

12:54 p.m.:

  • Dow: down 8
  • S&P 500: up 1
  • NASDAQ: up 13

12:57 p.m.:

  • Dow: down 27
  • S&P 500: up 2
  • NASDAQ up 17

1:00 p.m.: Announcement -- a cut of 50 basis points. Absolutely not on my bingo card  today! Wow!

  • Dow: up 323
  • S&P 500: up 47
  • NASDAQ: up 200

1:10 p.m.:

  • Dow: up 107
  • S&P 500: up 22
  • NASDAQ: up 105

1:15 p.m.:

  • markets turn negative; now pretty much flat.
  • easy come, easy go

Equities:

  • AAPL: up $5.50, then up $4.00
  • SRE: down 80 cents
  • NVDA: up slightly but turned green from red
  • AVGO: up $2.62
  • AMGN: up $4.68
  • CVX: up $1.61

S&P 500:

  • previous intra-day high: 5,678.81
  • intra day high today: 5,689.75 -- solid intra-day high

Close:

  • Dow: 
  • S&P 500: 
  • NASDAQ: 

*****************************
Meanwhile

Boesing starts furloughing tens of thousands of employees amid machinist strike.
my hunch: C-suite feels it has nothing to lose by taking strong action; much to lose if management doesn't take strong action.

Amazon increases average pay for warehouse workers and adds free Prime membership perk.

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