Countdown to Fed decision | Capital One data breach | Multinationals get clobbered by Trump tariffs

Stocks will likely get a modest short-term boost from what would be the first Federal Reserve interest rate cut since the Financial Crisis.

VIEW IN BROWSER | SUBSCRIBE TUE, JUL 30, 2019 EVENING BRIEF AS OF TUE, JUL 30, 2019 • 04:02 ET DJIA 27198.35 -0.08% -23.00 S&P 500 3013.21 -0.26% -7.76 NASDAQ 8273.61 -0.24% -19.72   Most Active DOW NAME LAST CHG %CHG PFE 38.79 -2.66 -6.42% AAPL 208.78 -0.90 -0.43% PG 120.41 +4.41 +3.80% S&P 500 NAME LAST CHG %CHG PFE 38.79 -2.66 -6.42% AMD 33.87 +0.39 +1.16% GE 10.52 +0.14 +1.35% NASDAQ NAME LAST CHG %CHG AMD 33.87 +0.39 +1.16% SIRI 6.18 +0.02 +0.32% AAPL 208.78 -0.90 -0.43% EDITOR'S NOTE If history is any indication, stocks will likely see a modest short-term boost from what would be the first Federal Reserve interest rate cut since the financial crisis.    CNBC used Kensho, a hedge fund analytics tool, to look at stocks that tend to pop on the day the central bank pulls the trigger. On average, the Dow Jones Industrial Average climbed 0.7% on rate cut day. Procter & Gamble takes the cake as the best-performing stock in the index on decision day, rising 2.2% on average, CNBC's Yun Li reports. Caterpillar and 3M both jumped nearly 1.9% when the Fed lowered interest rates for the first time in a long while. But history shows some longer-term upside, too. Data from Strategas shows annualized returns for the S&P 500 between the first rate cut and the next hike have been 20%, with a median increase of 13%. The data backs up the old saying "don't fight the Fed." Put another way: Investors would do well if they invest in a way that aligns with the Federal Reserve's policy direction, rather than against it.    One person not backing away from a fight with the Fed is President Donald Trump. He kept up the pressure on the central bank Tuesday, calling for a substantial interest rate cut. Trump said he thinks that the Fed should have acted sooner to lower rates, and that the economy would have been better off without the rate hikes that began in December 2015.   But history might not repeat itself, and the Fed could still surprise markets when it announces its latest decision on whether to adjust interest rates at 2 p.m. ET on Wednesday.   Have friends or colleagues who might like this newsletter? Tell them they can sign up for CNBC's Evening Brief here. Kate Rooney | CNBC Markets Reporter @Kr00ney TOP NEWS  Stocks fall after Trump attack on China dampens hope of a trade deal The Capital One breach is unlike any other major hack, with allegations of a single engineer wreaking havoc Trump calls for a 'large' interest rate cut a day before the Fed makes decision Multinational companies are getting clobbered by Trump's tariffs Jamie Dimon's worst fears for the banking industry realized with Capital One data hack Seven cities see home prices heating up again, but Seattle sinks, according to S&P Case-Shiller Trump rips China as trade negotiations set to begin, says 'no signs' of agricultural purchases California governor signs law, aimed at Trump, requiring presidential hopefuls to release tax returns Beyond Meat is giving insiders a quick way to cash out after 800% post-IPO gain Online bank Green Dot reveals savings account with a rate 30 times the national average     TOP VIDEO Here's what's in Mario Gabelli's stock portfolio   SPECIAL REPORTS Nobel Prize winner Robert Shiller makes the case for a rate hike: The economy is running 'hot' These unexpected stocks could be best bet into Fed rate decision, technical analyst says   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS