- Ryan Mallory
With today being a day for “Trick or Treating”, The Shareplanner Team was able to be treated to an incredible earnings report from Mastercard which sent the stock soaring over $32/share to close at $189.91. The Federal Reserve also announced a quarter-point cut in the Fed Funds Rate and to the Discount Rate. Like we said in yesterday’s summary, if you try to play the immediate reaction to the FOMC statement, you’re likely to get it wrong, and today was no different. Initially the market went from being up 80 points to break even. By the end of the day, investors made sense of the FOMC Statement and the market rallied 138 points. To read the FOMC Statement in its entirety then click here.