Post-Fed reaction ($INDU, $COMPQ, AXP, C, JPM, CSCO, MSFT, INTC) by Tomi Kilgore
Following the 50-basis point cut in interest rates, the major stock indexes have
knee-jerked lower. The Dow Industrials ($INDU) is now up 16 points at 10,897 and
the Nasdaq Composite ($COMPQ) is down 1 point at 2,837. Ahead of the
announcement, the Dow and Nasdaq were around 10,950 and 2,856, respectively
(see 2:05 item). Among some financial stocks, American Express (AXP) is down 53
cents at $47.38, Citigroup (C) is up 10 cents at $56.30 and J.P. Morgan Chase
(JPM) is inching up 22 cents at $56.20. Among some high-tech heavyweights,
Microsoft (MSFT) is off $1.13 at $62.25, Cisco Systems (CSCO) adding 38 cents to
$38.44 and Intel (INTC) is 88 cents better at $37.88.
