BMO Capital Markets Chief Investment Officer Brian Belski discusses the importance of stock picks in ‘The Claman Countdown.’
Stocks locked in strong gains for the week as the Dow and S&P 500 settled at record highs.
The gains came after the Federal Reserve cut interest rates for the first time since March 2020.
The 50 basis point cut may be the start of a new round of easing, but one policymaker threw cold water on the move.
Mortgages, credit card rates, auto loans and overall borrowing costs could be cheaper for everyday Americans.
FOX Business explains how the move could affect your bottom line…
CUTTING OF HISTORICAL MEASURES: The Federal Reserve has cut interest rates for the first time in four years, and policymakers are signaling more are on the way…keep reading here. SPOILERS? Another Fed official was not on the rate-cutting board. Here’s why…keep reading here.
VIDEO: Did the Federal Reserve help the US avoid recession?
STOCKS ARE UP: All three major US indices rose more than 1% for the week after mixed action on Friday…more in markets. The excitement after the Fed’s rate cut sent the Dow Jones Industrial Average above 42,000 for the first time.…keep reading here.
VIDEO: The stock market is seeing new record highs before the Fed moves. Can it continue?
MORTGAGE MOMENTUM?: Mortgage rates fell again this week with the 30-year fixed rate mortgage dropping sharply from 7.19% last year…keep reading here. If the Fed continues to cut, how much can mortgage rates go down?… keep reading here.
CREDIT CARD WAIVER? The average percentage rate or APR on credit cards is north of 20% high, and while lower interest rates will help lower that percentage, those carrying credit card balances may be disappointed…keep reading here.
AUTO LOANS: If you’re in the market for a new or used car, the Fed’s rate cut may give you more buying power, but the key will be if you plan to buy this big-ticket item.…keep reading here.
BUY NOW, PAY LATER: Affirm founder and CEO Max Levchin says the low interest rates will allow him to offer his customers and borrowers the best deals…WATCH his full interview here.
PERSONAL FINANCIAL TIPS AND TIPS
DON’T MISS: FOX Business Rundown Podcast – many podcasts here.
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