US stocks make big swings on the Fed decision but finish modestly lower

We got rate cuts from the Federal Reserve and Bank of Canada today but the commentary wasn’t dovish enough to keep the momentum going in stock markets. the main indexes finished slightly lower the well-above the lows shortly after Powell’s comment that it was a ‘risk management cut’.

Closing changes:

• S&P 500: -0.2%
• Nasdaq Comp: -0.4%
• DJIA: +0.5%
• Russell 2000: +0.4%
• Toronto TSX Comp: +0.1%

The intraday moves were the big ones. You can clearly see the action following the FOMC decision on the 1 minute chart.

This article was written by Adam Button at investinglive.com.