Responses to the FOMC Announcement at 2:00 PM EDT Yesterday
The Federal Reserve maintained its Fed Fund Rate at 4.25%-4.50%. It also warned about more economic uncertainty. Market responses from 2:00 PM to the close were as follow:
P.S. At 3:30 PM, President Trump proposed rescinding limits on global chip curbs. Semiconductor stocks and ETFs responded strongly on the upside, overcoming responses to Federal Reserve announcements. Notably stronger after 3:30 PM announcement was Nvidia.
S&P 500 Index was mixed after 2:00 PM but moved strongly higher on the chip announcement.
The U.S. Dollar ETN moved higher.
Long term Treasury Bond prices moved lower
Nvidia soared following Trump’s statement
Technical Notes
Verisk Analytics $VRSK a NASDAQ 100 stock moved above $306.67 to an all-time high extending an intermediate uptrend.
Nvidia $NVDA a Dow Jones Industrial Average stock moved above $114.29 in late trade completing a double bottom pattern.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 7th 2025
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for May 7th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 7th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Understanding U.S. Fed decision to leave rates unchanged
Understanding U.S. Fed decision to leave rates unchanged – YouTube
Takeaways from PM Carney’s meeting with Trump
Takeaways from PM Carney’s meeting with Trump – YouTube
Barrick CEO discusses earnings results & expansion into cooper
Barrick CEO discusses earnings results & expansion into cooper – YouTube
Why Nvidia investors are cheering Trump’s likely dismantling of Biden’s AI chip rules
S&P 500 Momentum Barometers
The intermediate term Barometer advanced 4.20 to 55.00. It remains Neutral.
The long term Barometer added 3.40 to 43.40. It remains Neutral
TSX Momentum Barometers
The intermediate term Barometer added 3.67 to 67.43. It remains Overbought. Daily uptrend was extended.
The long term Barometer added 3.67 to 56.88. It remains Neutral. Daily uptrend was extended.
Disclaimer: Seasonality ratings and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed.
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Equity Clock Publications