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As expected, US Fed lowered the dollar rate by 0.5% today. It is the first interest rate cut in 4 and a half years.
Since everyone expected the rate cut to some extent, there was no major change in the market. The stock and raw material markets were all in a wait-and-see mode all day.
Trump side is expressing strong dissatisfaction, saying that the decision to lower rates is very political ahead of the presidential election, but since only one member of the Fed, whom Trump nominated 5 years ago, opposed the rate cut, everyone seems to think that now is the right time to start lowering interest rates.
The Bank of England and the Bank of Japan will make interest rate policy decisions tomorrow, but they all seem to be freezing this September.
Despite the interest rate cut, the US stock market showed a correction today.
DJ Index fell 0.3%, S&P 500 index was downed by 0.3%, and NASDAQ index also fell 0.3%. As expected, interest rates was downed, but everyone was curious about how the actual market would react. For now, everyone seems to be in an extremely wait-and-see stance.
Today, Apple stocks was up by 1.8%, but Amazon fell 0.2%, MS fell 1.0%, Nvidia fell 1.9%, and Tesla fell 0.3%.
It seems that the market response to the iPhone 16 is not very good, so Apple IR and PR teams are getting into full swing. It is said that the iPhone 16 has already started a discount sale in China.
Even so, I think the iPhone 16 is better than the Huawei triple-fold phone that costs $3,500…
The US dollar index also finished the day without much change. The US dollar index closed at 100.98 points, up 0.07%.
