Dow Futures Bounce After Stock Market’s Biggest Selloff in Months

Dow Jones Industrial Average (DJIA) futures rose on Thursday after the stock market’s worst day in months. The recovery comes as traders search for nuance in the Federal Reserve’s landmark rate cut on Wednesday, the first in a decade.

Dow sell-off triggered by disappointing Fed policy

The Dow Jones ended Wednesday more than 300 points down in the worst session since May. Although the market got the rate cut it wanted, traders headed for the exit as they interpreted Powell’s cut as a one-time deal. 

Coinbase 2

Traders weren’t the only ones left disappointed. President Trump slammed Powell on Twitter saying he “let us down” by not pursuing a string of rate cuts. 

Stock market recovers as Fed clarifies stance

Thursday’s mild recovery in the Dow comes after Powell later clarified his comments, leaving the door open for a future cycle of cuts. He explained:

“I didn’t say it’s just one or anything like that.”

Dow Futures

Dow Futures

Dow futures sparked a recovery on Thursday after Fed chairman Powell left the door open for future rate cuts. Source: Yahoo Finance

The phrase was enough to soften the plunge and spark a small bounce this morning. At 7.37 am ET, Dow futures were up 31 points at 26,886. But investors are left confused. As Mark Cabana of Bank of America Merrill Lynch told CNBC:

“It was a very confusing and muddled message, and I don’t think that Powell delivered clear direction for what the near term path of additional Fed easing will be, and I think that’s why the market reacted negatively.”

It’s clear the market and the president want lower rates to stimulate the economy. As CCN reported, rate cuts should theoretically serve as rocket fuel for the stock market. But traders are left without the clarity they hoped for in the future direction of US monetary policy.

Dow Futures Bounce After Stock Market’s Biggest Selloff in Months 1
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 47,916.00
ethereum
Ethereum (ETH) $ 3,411.14
cardano
Cardano (ADA) $ 2.35
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 408.96
xrp
XRP (XRP) $ 1.07
solana
Solana (SOL) $ 162.50
polkadot
Polkadot (DOT) $ 33.92
dogecoin
Dogecoin (DOGE) $ 0.240177
usd-coin
USD Coin (USDC) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 47,916.00
ethereumEthereum (ETH)
$ 3,411.14
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 633.07
litecoinLitecoin (LTC)
$ 179.63
bitcoinBitcoin (BTC)
40.680,44
ethereumEthereum (ETH)
2.896,04
tetherTether (USDT)
0,848995
bitcoin-cashBitcoin Cash (BCH)
537,47
litecoinLitecoin (LTC)
152,50
bitcoinBitcoin (BTC)
34,731.67
ethereumEthereum (ETH)
2,472.55
tetherTether (USDT)
0.724845
bitcoin-cashBitcoin Cash (BCH)
458.88
litecoinLitecoin (LTC)
130.20

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin48,017 0.10 % 0.93 % 6.24 %
Ethereum3,425.3 0.04 % 2.04 % 4.81 %
Cardano2.360 0.26 % 1.58 % 9.65 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin410.44 0.29 % 1.68 % 1.56 %
XRP1.070 0.33 % 1.14 % 0.13 %
Solana163.80 0.28 % 11.59 % 7.95 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2410 0.27 % 1.33 % 0.08 %
USD Coin1.000 0.31 % 0.06 % 0.09 %

bitcoin
Bitcoin (BTC) $ 47,916.00
ethereum
Ethereum (ETH) $ 3,411.14
cardano
Cardano (ADA) $ 2.35
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 408.96
xrp
XRP (XRP) $ 1.07
solana
Solana (SOL) $ 162.50
polkadot
Polkadot (DOT) $ 33.92
dogecoin
Dogecoin (DOGE) $ 0.240177
usd-coin
USD Coin (USDC) $ 1.00