Pre-Market Report – Thursday 18 September: US markets slip on Fed cut | STO plugged and abandoned!

Wall Street recorded a choppy and mixed session as the Fed cut rates by the expected 25bps and Powell signalled a further two rate cuts this year, citing a weakening labour market while acknowledging continued inflation risks. S&P 500 down 0.1%, Nasdaq fell 0.3%. Dow rose at open and began meandering, higher and then lower, following Powell’s speech, returning and stabilising at the level prior to Powell’s comments. Closed mid-range, up 260 points. Mixed sector performance. Financials the standout, followed by Staples and Materials, all rate sensitive sectors that benefitted from the confirmed Fed cut. At the opposite end, growth was the drag, with Tech and Cyclicals recording red returns for the day.ASX to fall. SPI futures down 13 points (-0.13%).Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.