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Tech Shares Buoy the Entrepreneur Index™ Again Despite Signs of Slowing Economic Growth

2 112 35
21.03.2019

The Federal Reserve Bank, as expected, did not raise interest rates today at its two-day March meeting. In fact, it probably won't hike rates for the rest of the year.

11 of 17 members on the Fed's Open Market Committee said they expected no interest rate increases this year, with many flagging signs of slowing growth in the U.S. and overseas as the reason. Investors weren't sure what to make of the Fed's very dovish -- and arguably bearish -- pivot. Many poured money into government bonds, sending the yield on the 10-year Treasury bond down eight basis points to 2.53 percent. It is now just slightly above the higher range of the overnight Fed Funds rate.

The major stock indexes initially jumped after the Fed released its statement at 2:00, but faded through the afternoon. The Dow and S&P 500 indexes closed the day with losses of 0.55 percent and 0.29 percent respectively. Technology stocks, however, continued their recent good run, helping the Nasdaq Composite index........

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