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: 
  

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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.