President Donald Trump Again Demanded the cut interest rates today but unfortunately, The Federal OpenMarket Committee hasn’t accepted this request from Trump. But it did something positive for the future. Fed Chairman Jerome Powell recently said that the risks for the committee saw to the economy had just made the case strong for more accommodation, for more trade developments and concerns about global growth. Now the market can be seen a 100% chance of a rate cut next month, which will be based on the Fed Funds Future Contracts Prices.
Because of this Fed’s statement, the stock market gets a little gain in this afternoon. The S&P and Dow were up by 0.15% and 0.3% and the Nasdaq Composite was up by 0.42%.
Now again Adobe Inc. was the 1st in the index today, after reporting the strong financial results it rose to 5.21%. This software-making Company had revenue growth of 25% over the same period as last year and it beats earnings which were estimated by 5 cents per share. Now, this stock is up by 28.7% this year.
However, The other technology companies were mixed. Netflix was up by 1.79% and salesforce.com was up by 2.36% and this is a good gain in the market but now the let’s talk about these giants’ social media companies Twitter and Facebook were down by 0.98% and 0.53% which is not good for these social media sites. Tripadvisor Inc was up by 1.9% and Akamai Technologies was up by 1.71% but Cognizant Technology was failed and it fell 1.73% approximately.
Now, this was all for today, shares are going up and down on its own no one knows when it is going to go up and when it is going to go down so everyone has to wait and estimate the things out.