Wall St. treads water amid rate-cut bets, tech stocks falter


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Wall St. treads water amid rate-cut bets, tech stocks falter

On Monday, the 9th of September 2019, key trading indexes of Wall Street ended down the day dithered, while a stringent expectation of a mass-scale stimulus from Central Banks around the world were overshadowed by losses of tech stocks and defensives such as healthcare, suggesting an almost identical market closure to major European bourses.

Meanwhile, following Monday’s (September 9th) sell-off of defensives, strategists were quoted saying that Investors were swaying from buying positions after bagging solid gains and making preparations for a more likely post-stimulus rally, nonetheless, betting on the flipside, some of the analysts were saying that the money markets across the world were overexaggerating impacts of fiscal stimulus.

Besides, adding that Wall St. was witnessing a calm before the storms as investors had been waiting for news on rate-cuts, fiscal stimulus and trade-talks, a portfolio manager at Kingsview Asset Management in Chicago, Paul Nolte said on Monday’s (September 9th) US session closure, “This is kind of the eye of the storm.

for the market to move significantly higher from here, we’d really need to see something happen on trade,” while referring to a wait-and-see approach of the market ahead of ECB stimulus, expected to be released later this week, a chief market strategist at Prudential Financial in Newark, New Jersey, Quincy Krosby said, “The market is absorbing those gains from last week, and ...

is in a wait-and-see regarding the European Central Bank meeting. ” Quoting statistics, on Monday’s (September 9th) market closure, Dow gained 0.14 per cent to 26,835.51 and benchmark S&P 500 ended a penny down to 2,978.43, while Nasdaq fell 0.19 per cent to wind down the day at 8,087.44.