Jim Cramer Predicts Narrowing Market as 'Johnnie-Come-Latelies' Panic-Sell Post Fed Policy
Portfolio Pulse from Bhavik Nair
Jim Cramer predicts a narrowing market as investors panic-sell following the Federal Reserve's policy announcement. He believes the Fed may not need to tighten as much as it hinted, as inflation could lessen on its own. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) closed higher after the announcement.
June 15, 2023 | 4:28 am
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POSITIVE IMPACT
The Invesco QQQ Trust Series 1 (QQQ) rose 0.73% after the Federal Reserve's policy announcement.
The Federal Reserve's policy announcement led to a positive impact on the QQQ ETF, as it rose 0.73%. This indicates that investors may have reacted positively to the announcement, leading to a short-term increase in the ETF's price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) closed 0.12% higher after the Federal Reserve's policy announcement.
The Federal Reserve's policy announcement led to a positive impact on the SPY ETF, as it closed 0.12% higher. This indicates that investors may have reacted positively to the announcement, leading to a short-term increase in the ETF's price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50