01.30.19 • +1.55%
Near term factors:
China Trade Deal
Long term factors:
Federal Reserve economic outlook
The day started out with a bump; guided by good earnings from Apple and Boeing. Even though these are Dow Jones Industrial components, they assured the market that times aren’t as bad as they seem. Furthermore, in the afternoon, The Fed calmed the markets with reassurance that fundamentals are solid. The market wasn’t expecting anything from this meeting and that is exactly what we got. A non-event and reasonable 2019 guidance from the Fed assisted the rally already in place.
Fed Chair Powell’s press conference went very well. The media asked some challenging questions and he seemed to answer flawlessly. Some questions he faced involved incurring unforeseen economic challenges in the future and how would the Fed manage interest rates in those conditions. His calm demeanor and transparency in his answers was exactly what the market was looking for. Now, only time will tell how the market perceives future and more eventful meetings in comparison.
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