Stock Market Update

[BRIEFING.COM] The stock market recover from its initial drop in response to the FOMC decision. Major indices trade little changed from levels they were at before 2:00 ET. 

The improvement occurred as Fed Chair Powell gives his press conference. Some key remarks so far include "Now, policy is meaningfully less restrictive than it with us before we began to cut, 100 basis points less restrictive. For that reason we will be focusing on seeing real progress on inflation, or some weakness in the labor market before we consider make adjustments."

In regards to the new administration, Mr. Powell said "I think the Committee is very much in the mode of waiting to see what policies are enacted. We don't know what will happen with tariffs, with immigration, with fiscal policy, and with regulatory policy.".