Fed signals a pause in rate cuts

Posted on October 31, 2019

The Federal Reserve cut interest rates by 25 basis points for the third time this year on Wednesday. Comments from Chairman Jerome Powell indicated that the central bank would be hitting pause on monetary policy easing for now, and there will be no hiking until inflation rises.

Apple on Wednesday forecast sales ahead of Wall Street expectations for the holiday season while Facebook reported its third straight climb in quarterly sales growth.

Economic data is due at around 09:30 a.m. ET on Thursday, including PCE (personal consumption expenditure) price index and Core PCE price index figures, along with personal income and spending.