With Steve Liesman and fresh comments frommed fed chairman. Jerome powell sieve times said Interest Rate policy depends on the Economic Data he added the economy is overall in good shape despite troubles on the horizontale many indicator show a strong labor market solid job gates. Unemployment at half century low and rising prime i age participation. There are risks. Prin will i from Global Developments growth around the world mass weakened the last year and a half and uncertainties apprehend trade and, brexit and other issues close risks whats did are does it mean for the outlook process . He appeared neutral about what the fed would do at the late october meeting. Markets took his comments as affirming expect aches for rate cuts jp morgan if the fed leadership wanted to push back gesticulate against expectations we think powell would have chosen language not calling out downside risk. Speaking in denver, the fed chair said the central bank will increase the size of the Balance Sheet
After a rough day where the dow tumbled 314 points, s p plunged 1. 56 , and the nasdaq plummeted 1. 67 , i think the problems simple a list of stocks that are working seems to grow smaller by the day. Isnt that what it feels like . We have fewer stocks that are safe to own and more that are down right toxic as we saw near the end of the day when the bears crushed the bulls toward antichina fueled trading. Today felt like a vicious pro Football Game where the quarterback was under pressure all day and succumbed in the Fourth Quarter in football, a quarterback tries to do a check down, looking to receivers for the best opportunities down field sometimes the Wide Receivers are wide open. Sometimes the qb has to thread the needle to hit a receiver, a slant pattern. Other times, times like today, the bears are swarming, and its like a jailbreak as they head toward the quarterback if he doesnt get rid of the ball in time, hes likely to be sacked, perhaps for a big loss or a fumble or even an