- Title: Wall Street rises as oil worries fade, investors eye Fed rate cut
- Date: 17th September 2019
- Summary: NEW YORK CITY, NEW YORK, UNITED STATES (SEPTEMBER 17, 2019) (REUTERS) (SOUNDBITE) (English) SPARTAN CAPITAL CHIEF MARKET ECONOMIST, PETER CARDILLO, SAYING: "No, I don't think the economy needs a cut. I think they're doing it just to take precautionary measures and to calm the markets. You know, just... what, 10 days ago, 12 days ago, we were looking at an inverted yield curve, which was suggesting that recession in early 2020 was a possibility. And now the bond market has dialed that back. You look at the 10-year note, we were trading a little above 1.8% last week. Now we're down to 1.8, and that decline was done, was probably due to the attack in Saudi Arabia."
- Embargoed: 1st October 2019 21:08
- Keywords: New York Stock Exchange NYSE closing bell markets stocks Peter Cardillo Spartan Capital
- Location: NEW YORK CITY, NEW YORK, UNITED STATES
- City: NEW YORK CITY, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA002AX1SBYL
- Aspect Ratio: 16:9
- Story Text: Wall Street ended higher on Tuesday (September 17) as the impact of weekend attacks on Saudi Arabia's biggest oil refinery faded and investors awaited a widely expected interest rate cut from the Federal Reserve on Wednesday (September 18).
The Dow Jones Industrial Average rose 31.47 points, or 0.12%, to 27,108.29, the S&P 500 gained 7.49 points, or 0.25%, to 3,005.45 and the Nasdaq Composite added 32.47 points, or 0.4%, to 8,186.02.
(Production: Aleksandra Michalska)
- Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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