Wall Street Awaiting Fed's Next Move

On the road again... drive by post.

As one can see from the figures below, there was muted reaction in the US to the ECB rate dump early in the day.

Wall Street is no doubt waiting for the Fed's response in kind, next week, when they're expected to drop the federal funds rate another 25 basis points. They're now behind the curve in the currency race into the abyss (a new term because "race to the bottom" would assume there is some stopping point... thanks to negative interest rates, there isn't), and will be playing catch-up the next year or more, at least into the election season.

What a horrible hotel. Hilton Airport in Knoxville, TN. The room smells like a doctor's office. The air is antiseptic and stifling, the coffee machine doesn't work properly and the sheets on the bed are treated with some kind of agent which induces congestion and itching. Not recommended. In the spirit of negative interest rates, I'm giving it -4 stars.

At the Close, Thursday, September 12, 2019:
Dow Jones Industrial Average: 27,182.45, +45.41 (+0.17%)
NASDAQ: 8,194.47, +24.79 (+0.30%)
S&P 500: 3,009.57, +8.64 (+0.29%)
NYSE Composite: 13,116.05, +33.64 (+0.26%)