Stocks are on a comeback. Dow rises 225 points

The Dow and the broader US stock market rallied on Wednesday and clinged on to their gains after the release of Federal Reserve minutes in the afternoon....

Posted: Aug 21, 2019 11:48 AM
Updated: Aug 21, 2019 5:00 PM

The Dow and the broader US stock market rallied on Wednesday and clinged on to their gains after the release of Federal Reserve minutes in the afternoon.

The Dow was trading some 225 points higher, up 0.9%. The S&P 500 was 0.7% higher and the Nasdaq Composite was up 0.8%. All three indexes finished lower on Tuesday; the Dow and the S&P ended three-day winning streaks.

The Fed published the minutes from its July meeting at 2 p.m. ET on Wednesday. During the July meeting, the Fed cut interest rates for the first time since 2008. The minutes showed that most Fed policymakers supported the rate cut. But the minutes also showed that they wanted to 'maintain optionality' when it comes to the course it takes on monetary policy going forward.

Expectations for an additional quarter percentage point cut in September are at 98%, according to the CME FedWatch tool.

President Donald Trump once again lashed out against Fed Chairman Jerome Powell early Wednesday. 'The only problem we have is Jay Powell and the Fed,' he said on Twitter, adding that there would be 'big U.S. growth if he does that right thing.'

'Sentiment seems to be improving on the hope for signals of more monetary easing from the Fed and other global central banks in the days ahead,' wrote Priscilla Thiagamoorthy, economic analyst at BMO, in a note to investors.

That shift in sentiment is helping boost riskier assets like stocks and is leading the 10-year Treasury yield higher. The yield last sat at 1.5774%.

Adding to the hopes of monetary policy sentiment, Trump said Tuesday that his administration was looking at additional tax cuts.

Gold, also a safe haven investment, is slipping, with prices down 0.3% at $1,500. Oil prices settled 0.8% lower at $55.68 per barrel, pulling back from earlier highs following a report from the US Energy Information Administration showing falling inventories in the United States.

The US dollar, measured by the ICE US Dollar Index, is little changed, staying in wait-and-see mode ahead of the afternoon release.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 764448

Reported Deaths: 13965
CountyCasesDeaths
Marion1049701803
Lake567981029
Allen42685698
St. Joseph37253568
Hamilton37131426
Elkhart29699470
Tippecanoe23347230
Vanderburgh23106404
Porter19538327
Johnson18755391
Hendricks18012321
Madison13463345
Clark13450198
Vigo12789255
LaPorte12533224
Monroe12494178
Delaware11100198
Howard10612237
Kosciusko9736123
Hancock8707149
Bartholomew8235157
Warrick8031157
Floyd7975181
Grant7337181
Wayne7222201
Boone7145105
Morgan6886142
Marshall6323116
Dubois6267118
Cass6083111
Dearborn598578
Noble595790
Henry5939111
Jackson514677
Shelby509097
Lawrence4901127
Gibson460696
Montgomery454492
Clinton453555
DeKalb451585
Harrison450576
Whitley414745
Huntington411781
Steuben409560
Miami404073
Jasper399455
Knox387091
Putnam383762
Wabash367383
Adams351656
Ripley350471
Jefferson340486
White338954
Daviess3084100
Wells302281
Greene292285
Decatur291493
Fayette285864
Posey280435
Scott278058
LaGrange276972
Clay273048
Washington252437
Randolph247083
Jennings238149
Spencer237531
Fountain233750
Starke229859
Owen221059
Sullivan219043
Fulton207645
Jay202832
Carroll196522
Orange190556
Perry189139
Vermillion179644
Rush177027
Franklin171635
Tipton171547
Parke153616
Pike141234
Blackford137832
Pulaski122948
Newton122436
Benton109215
Brown105743
Crawford105116
Martin92515
Warren87615
Switzerland8308
Union73510
Ohio58211
Unassigned0428

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1120922

Reported Deaths: 20467
CountyCasesDeaths
Franklin1300711493
Cuyahoga1169882259
Hamilton822191259
Montgomery533351059
Summit487911014
Lucas43688832
Butler39879614
Stark33752937
Lorain25937509
Warren24850312
Mahoning22663612
Lake21429396
Clermont20338260
Delaware19088138
Licking16820227
Trumbull16744491
Fairfield16735207
Medina15800276
Greene15468254
Clark14325308
Portage13391218
Wood13327201
Allen12026245
Richland11707213
Miami10976228
Wayne9238227
Columbiana9182236
Muskingum9114137
Pickaway8729123
Tuscarawas8706254
Marion8691140
Erie8109166
Ashtabula7264179
Hancock7039134
Ross7004165
Geauga6939153
Scioto6636108
Belmont6203179
Lawrence5905104
Union590049
Jefferson5718162
Huron5622122
Sandusky5467130
Darke5436130
Seneca5373128
Washington5352111
Athens526260
Auglaize506787
Mercer490285
Shelby480497
Knox4603112
Madison446966
Ashland441898
Defiance438099
Fulton435275
Putnam4349104
Crawford4103111
Brown408862
Preble3940107
Logan391479
Clinton387966
Ottawa374981
Highland364668
Williams355478
Champaign347560
Guernsey329554
Jackson321154
Perry298050
Morrow294543
Fayette287950
Hardin278865
Henry276967
Holmes2725102
Coshocton272461
Van Wert251465
Gallia248450
Adams247758
Pike244537
Wyandot235257
Hocking221763
Carroll200349
Paulding179342
Meigs150740
Noble137639
Monroe137445
Harrison115038
Morgan111524
Vinton87117
Unassigned03
Fort Wayne
Partly Cloudy
85° wxIcon
Hi: 86° Lo: 71°
Feels Like: 92°
Angola
Partly Cloudy
84° wxIcon
Hi: 85° Lo: 70°
Feels Like: 91°
Huntington
Partly Cloudy
85° wxIcon
Hi: 85° Lo: 69°
Feels Like: 91°
Decatur
Mostly Cloudy
85° wxIcon
Hi: 86° Lo: 69°
Feels Like: 92°
Van Wert
Partly Cloudy
86° wxIcon
Hi: 87° Lo: 68°
Feels Like: 92°
Showers and storms are possible early Sunday morning, but we'll be dry by sunrise. Partly sunny skies and hot conditions are expected for the second half of the weekend.
WFFT Radar
WFFT Temperatures
WFFT National

Community Events