Dow Hits New Intraday High on Fed Day: Stock Market Today
All three main U.S. stock market indexes spiked after the Federal Open Market Committee announced a 25 basis point cut to the target range for the federal funds rate, but quickly fell back into their intraday ranges and closed mixed.Factors other than monetary policy figured into a relatively stable trading session, as the world's most important stock suffered another trade war blow.As was nearly 100% certain heading into the announcement, the FOMC cut interest rates by a quarter point to a range of 4.00% t ...