• Fed Chairman Powell answers press questions following rate cut: Watch live Link
    MarketWatch Wed 18 Sep 2019 18:41
  • What is this REPO stuff all about? Let @lebas_janney (and Homer) explain Link https://t.co/VbjTvxttXu
    MarketWatch Wed 18 Sep 2019 18:41

    Repo (repurchase or reverse repurchase agreement) is a common way to finance a bond. Essentially, an owner buys a bond and then borrows, say 95% of the value of that bond, posting the bond as collateral. 2/x pic.twitter.com/UdWhTLOOwT

    — Guy LeBas (@lebas_janney) September 17, 2019
  • How HBO Max’s ‘Big Bang Theory’ deal compares to ‘Seinfeld’ and ‘The Office'. Link https://t.co/AHzMg2VHQk
    MarketWatch Wed 18 Sep 2019 18:36

    “Game of Thrones” may have ended on a whimper this year, but HBO Max will be starting off with a bang next year.

    A BIG bang.

    The WarnerMedia-backed streaming service has scored the exclusive domestic streaming rights to “The Big Bang Theory,” which ended its 12-season run on CBS CBS, -0.44%  last May as TV’s longest-running multi-camera comedy series — yes, even beating “Cheers.”

    While the details of the five-year deal have not been released, the Wall Street Journal reported that WarnerMedia (a subsidiary of AT&T T, -1.15% ) agreed to shell out $500 million over five years to stream all 279 episodes of the geeky sitcom starring Jim Parsons, Johnny Galecki and Kaley Cuoco on its new direct-to-consumer streaming service HBO Max, plus another $100 million or so in cable rights to broadcast the reruns for WarnerMedia’s TBS. But the Hollywood Reporter puts the deal at “billions,” and says it is “easily a record-setting five-year deal.”

  • Why did the Fed cut interest rates? Here's the Open Market Committee's statement Link
    MarketWatch Wed 18 Sep 2019 18:26

    Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.

    See: Fed sees mostly steady U.S. economy through 2022

    Although household spending has been rising at a strong pace, business fixed investment and exports have weakened. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.

    Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower...

  • How stocks are moving... some minutes later. Link https://t.co/m1Q6EIH9x4
    MarketWatch Wed 18 Sep 2019 18:26

    U.S. stock-index losses accelerated Wednesday afternoon as investors assessed the Federal Reserve's decision to cut rates, as expected, with several dissenting votes, implying that further reductions are not guaranteed.The Dow Jones Industrial Average DJIA, -0.61% was down 170 points, or 0.6%, to 26,943, while the S&P 500 SPX, -0.73% lost 21 points, or 0.7%, to trade at 2,984. The Nasdaq Composite COMP, -1.03% declined 83 points, or 1%, to 8,103. The rate-setting Federal Open Market Committee cut rates by one quarter of a percentage point to a range of 1.75%-2%, in a 7-3 vote. Voting against the action were James Bullard, who preferred to lower the target range for the federal-funds rate to 1.50% to 1.75%. Esther George and Eric Rosengren preferred to maintain the target range at 2% to 2.25%. "Bottom line, there is now a likelihood that as of today, this might be the last rate cut of the year as the 'mid course adjustment' process continues but could be done. So...

  • This line from the FOMC statement is already getting people talking: "Although household spending has been rising at a strong pace, business fixed investment and exports have weakened." Link
    MarketWatch Wed 18 Sep 2019 18:21
  • Stock market losses deepen after Fed cuts interest rates by 1/4 point Link
    MarketWatch Wed 18 Sep 2019 18:16

    U.S. stock-index losses initially accelerated Wednesday afternoon but declines moderated some as investors assess the Federal Reserve's decision to cut rates, as expected, with several dissenting votes, implying that further reductions are not guaranteed.The Dow Jones Industrial Average DJIA, -0.64% was down 62 points, or 0.2%, to 27,045, while the S&P 500 SPX, -0.75% lost 10 points, or 0.3%, to trade at 2,996. The Nasdaq Composite COMP, -1.04% declined 48 points, or 0.6%, to 8,138. The rate-setting Federal Open Market Committee cut rates by one quarter of a percentage point to a range of 1.75%-2%, in a 7-3 vote. Voting against the action were James Bullard, who preferred to lower the target range for the federal-funds rate to 1.50% to 1.75%. Esther George and Eric Rosengren preferred to maintain the target range at 2% to 2.25%.

  • Treasury yields remain lower in the wake of the Fed decision. Link https://t.co/emnYK42YQa
    MarketWatch Wed 18 Sep 2019 18:16
  • How stocks are moving in the immediate aftermath of the Fed's rate cut: Link https://t.co/czLqvXGDcd
    MarketWatch Wed 18 Sep 2019 18:16
  • Here are five things to know about the recent repo market operations Link
    MarketWatch Wed 18 Sep 2019 18:11
  • Stock market holds losses after Fed delivers expected interest-rate cut Link
    MarketWatch Wed 18 Sep 2019 18:11

    U.S. stock-index losses initially accelerated Wednesday afternoon but declines moderated some as investors assess the Federal Reserve's decision to cut rates, as expected, with several dissenting votes, implying that further reductions are not guaranteed.The Dow Jones Industrial Average DJIA, -0.37% was down 62 points, or 0.2%, to 27,045, while the S&P 500 SPX, -0.46% lost 10 points, or 0.3%, to trade at 2,996. The Nasdaq Composite COMP, -0.71% declined 48 points, or 0.6%, to 8,138. The rate-setting Federal Open Market Committee cut rates by one quarter of a percentage point to a range of 1.75%-2%, in a 7-3 vote.

  • Today's Fed rate cut is now official. The "dot-plot" shows 7 Fed officials project one more rate cut in 2019, a sizable minority. Link
    MarketWatch Wed 18 Sep 2019 18:11
  • FOMC cuts fed funds rate, 7 officials project one more by year end Link
    MarketWatch Wed 18 Sep 2019 18:06

    WASHINGTON (MarketWatch) - The Federal Reserve on Wednesday trimmed its benchmark interest rate to 1.75% to 2%, with a sizable minority projecting one more rate reduction in 2019. The central bank has cut rates twice in the past two months as an insurance policy against damage from the U.S. trade war with China. The vote was 7-3. St. Louis Fed President James Bullard preferred a half-point cut. Boston Fed President Eric Rosengren and Kansas City Fed President Esther George dissented for the second meeting in a row, preferring no rate cut. Looking ahead, 10 senior Fed officials projected no more rate cuts this year, but seven viewed one more reduction as likely. Meanwhile, the Fed left its forecast for the economy little changed over the next several years. Notably, the central bank projected no rate cuts in 2020 and just one in both 2021 and 2022.

  • Fed cuts interest rates one-quarter point Link
    MarketWatch Wed 18 Sep 2019 18:06
  • RT @jbartash: FED WATCH: FOMC votes 7-3 to cut benchmark rate again to 1.75% to 2%, but central bank seems divided over next step. Ten of 1…
    MarketWatch Wed 18 Sep 2019 18:06
  • India’s government bans the sale of e-cigarettes Link
    MarketWatch Wed 18 Sep 2019 18:01
  • The Fed is just minutes away from its latest interest-rate decision: Follow live Link
    MarketWatch Wed 18 Sep 2019 18:01
  • Bond King Gundlach says this contradiction in stock and bond markets is ‘danger signal’ Link
    MarketWatch Wed 18 Sep 2019 17:56
  • RT @m_cof: If you’re still confused about repo, here's one strategist's quick explainer, with the help of “The Simpsons” https://t.co/JVMe0…
    MarketWatch Wed 18 Sep 2019 17:51
  • This is the best kind of beer buzz. Link
    MarketWatch Wed 18 Sep 2019 17:51

    This is the best kind of beer buzz.

    Carson King, 24, held up a sign on national TV during a University of Iowa college football game last weekend asking for viewers to Venmo him cash for a case of Busch Light. He and his “Busch Light Supply Needs Replenished” sign got picked up by ESPN’s “College GameDay” broadcast on Saturday morning — and raised $400 in just an hour.

    “I made the sign as a joke, and just hoped maybe a couple of people in the crowd would see the sign and maybe toss me $20 so I could get a case of Busch Light,” King told MarketWatch. But after he raked in $600, King and his family decided to donate the windfall to the University of Iowa Stead Family Children’s Hospital, which is adjacent to the football field. (In fact, during Iowa home games, fans do the “Iowa Wave” for the kids watching from the hospital windows.) His mom and his brother shared his fundraiser and Venmo handle (@Carson-King-25) on Facebook FB, -0.03%  and Twitter...

  • Strategist uses ‘The Simpsons’ to explain what this repo stuff is all about Link
    MarketWatch Wed 18 Sep 2019 17:36
  • JPMorgan’s Dimon doubts Trump and China will strike trade deal before 2020 election Link
    MarketWatch Wed 18 Sep 2019 17:31
  • Seven people have died so far. Link
    MarketWatch Wed 18 Sep 2019 17:16

    Another person has died from complications related to the vaping-related lung illness reported across the country in recent weeks, California health officials said this week, marking the seventh such death in the nation — and the second in that state.

    The unnamed individual’s death is “suspected to be related to severe pulmonary injury associated with vaping,” said Karen Haught, the public-health officer of Tulare County, which is south of Fresno.

    California’s first known vaping-related death was reported in Los Angeles County; five other deaths have also been reported in Illinois, Indiana, Kansas, Minnesota and Oregon, respectively. At least 380 cases of the lung illness had been reported in 36 states and the U.S. Virgin Islands as of last Wednesday, according to the Centers for Disease Control and Prevention.

    The CDC said Monday it had activated its Emergency Operations Center, which gathers experts to monitor and respond to public-health events,...

  • ‘Saudi Arabia’s bitch’? Tulsi Gabbard has some strong words for President Trump Link
    MarketWatch Wed 18 Sep 2019 17:00
  • Jamie Dimon doubts U.S. and China will strike trade deal prior to 2020 election Link
    MarketWatch Wed 18 Sep 2019 16:50

    President Trump is floating the idea China could agree to a trade deal before the 2020 election, but one of America’s top CEOs is skeptical.

    JPMorgan Chase & Co. JPM, +0.25%  Chief Executive Jamie Dimon on Wednesday said he doubts the U.S. and China will strike an agreement soon to end a festering trade dispute that is hurt the economies of both countries and contributed to a global slowdown.

    He also suggested the Federal Reserve’s countermove to cut U.S. interest rates as a so-called insurance policy against trade disruptions is unlikely to have much success. The central bank is widely expected to reduce already-low interest rates later Wednesday for the second time this year.

    Opinion: Powell’s faces dilemma between trade uncertainty and Trump pressure

    “I don’t think cutting the rates will offset trade personally,” Dimon told reporters in Washington after the Business Roundtable issued its weakest outlook for the economy in almost...

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