The Dow’s 300-Point Gain Evaporated Because the Fed’s Not Done Raising Rates. The Fed raised its benchmark rate by a quarter point, and signaled expectations for two more hikes to come in 2019.

2:25 p.m. The Dow Jones Industrial Average has given back most of its gains after the U.S. Federal Reserve raised its benchmark interest rate by a quarter point but continued to point to more hikes in 2019.

The Dow is up 81.39 points, or 0.3%, at 23,757.03, while the S&P 500 has edged up 0.2% to 2551.47, and the Nasdaq Composite is off 0.2% at 6,771.31. The 10-year Treasury yield sits at 2.80%, near its low of the day.

https://www.barrons.com/articles/dow-gives-back-gains-as-fed-signals-more-hikes-to-come-51545246699

Submitted December 19, 2018 at 02:32PM by caliphornian https://ift.tt/2EGXrzy