S&P 500 edges to record closing high as Fed minutes parsed

S&P 500 edges to record closing high as Fed minutes parsed

By Stephen Culp

Wed February 19, 2025 4:19 PM

All three indexes started the day well into the red, the Dow down some 250 points by 1 pm but then all rebounding to modest gains by close. As investors continue to parse Fed minutes, on the minus side there is the scenario of a coming economic slowdown. On the plus side this could mean more rate cuts sooner. Then there is the question of the coming reciprocal tariffs. The glass-half-full people see them as a bargaining chip, more bark than bite. The glass-half-empty people see them as sparking a global trade war.  

So uncertainty continues to be the overall market theme. Q4 is winding down with 74% beating expectations and earnings growth forecasted at 15.3%, same as yesterday. Also same as yesterday, volume came in at 16.36 billion vs the average of 15.57 billion.  (These numbers are, in fact, exactly the same as yesterday. It looks like Reuters just retyped yesterday’s numbers since the data from the CBOE has today’s volume at 15.1 billion, below the average.) 

DJ: 44,556.34  +10.26      NAS: 20,041.26  +14.49       S&P: 6,129.58  +14.95         2/18

DJ: 44,627.59  +71.25      NAS: 20,056.25  +14.99       S&P: 6,144.15  +14.57         2/19

Wed 2-19-25 4:19 pm S&P 500 edges to record closing high as Fed minutes parsed | Reuters