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Pretty easy to see where the news dropped there.
The big question for most investors is: now what?
The immediate excitement will fizzle out by the end of the week, and Wall Street will likely turn to the next inflection point: the election.
We can start the drama all over again.
But I wouldn’t assume that it’s all sunshine and daisies until then. I’m not as convinced as the Fed seems to be about the economy, and I’m not sure investors are, either.
There will be a temporary sugar high, but I’d look for more downside pressure before too long. As I’ve said, I think the markets will pretty much channel sideways until the election. I could be wrong, but that’s what I’d expect if I had to make a prediction (and I guess I just did).
There will still be tons of opportunity, though, don’t fret.
On that note, make sure you check out my interview with Graham tomorrow, because he also shares a few sectors you’ll definitely want to pay attention to now that rates have been slashed.
To your prosperity,
Stephen
P.S.: If you didn’t catch it, I joined Jack Carter earlier this week to talk about 10 specific rate-cut tickers HE’S focused on. You’ll definitely want to check this out.
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