LIVE MARKETS-Wall Street stocks chop around as Fed cuts rates, signals more

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

WALL STREET STOCKS CHOP AROUND AS FED CUTS RATES, SIGNALS MORE

The S&P 500 .SPX briefly turned from red to green before losing ground again to touch a session low while the Nasdaq .IXIC hit its lowest level for the day so far after initially paring losses after the U.S. Federal Reserve cut interest rates by 25 basis points as was widely expected and signaled that it would steadily ease borrowing costs for the rest of the year.

The changes appeared to indicate more concern about weakening growth and the likelihood of rising unemployment and a downplaying of risks that the administration's voluble trade policies will stoke persistent inflation.

The U.S. dollar index =USD lost ground, falling to its lowest level since February 2022 after the announcement while yields on 10-year Treasuries went into reverse, hitting their lowest levels since April.

"Broad economic growth is stronger than expected, inflation is a bit tamer than feared, and the labor market is decelerating faster than hoped. All in, it’s not a sign that they’re in panic-mode, nor should they be," said Brian Jacobsen at chief economist at Annex Wealth Management.

Here is a post Fed snapshot from 2:21 p.m ET/ 1821 GMT

(Sinéad Carew)

*****

EARLIER ON LIVE MARKETS:

DÉJÀ VU? CLICK HERE

WHAT'S IN STORE FOR THE DOLLAR ONCE THE FED STARTS CUTTING? CLICK HERE

FIXER-UPPERS: FED DAY HOUSING DATA CLICK HERE

U.S. INDEXES MIXED WITH TECH, DISCRETIONARY DRAGGING CLICK HERE

TESLA'S REBOUND: MUSK’S GRAND VISION AND THE ROAD TO $8.5 TRILLION CLICK HERE

NON-RECESSIONARY RATE CUTS: THE SWEET SPOT FOR GLOBAL MARKETS CLICK HERE

RBC UNPACKS THE LOGIC BEHIND STAPLES SECTOR TURBULENCE CLICK HERE

INTRADAY TACTICS AROUND THE FED DECISION CLICK HERE

CAN THE RALLY IN GOLD BE STOPPED? CLICK HERE

UBS SEES 'LARGE MONEY POOLS' WADING BACK INTO EUROPE CLICK HERE

SAP BOUNCE HELPS TECH, STOXX STEADY CLICK HERE

BEFORE THE BELL: EUROPEAN FUTURES STEADY ON FED DAY CLICK HERE

FINALLY, THE FED CLICK HERE