Today's Big Announcements:
Last Quarter: U.S. economy grows 1.9% in the third quarter (From Fed White Paper)
SJR Management: Growth is slowing as China trade policy remains unstable and the effects of TCJA have worked their temporary "magic." The latest job creation figures are the worst in the last several years.
This morning: The U.S. Federal Reserve cut interest rates for the 3rd time this year, reducing rates by another quarter point as the economy continues to cool.
SJR Management: The Fed responds to the slow-down - taking protective measures that encourage growth.
Financial Market Reaction: The affect on the stock market was - for a change - reasonable: All but two indices that we track are down slightly.
SJR Management: Most of this bad news is already priced into the market. Reaction should, therefore, be subdued. The two upward movers? Indices that include large industrial companies, for the most part.