Fed cuts rates again | Stocks rally | Tough two days for Boeing CEO

S&P 500 closed at a record after an expected rate cut from the Federal Reserve.

VIEW IN BROWSER | SUBSCRIBE WED, OCT 30, 2019 EVENING BRIEF AS OF WED, OCT 30, 2019 • 04:06 ET DJIA 27186.69 +0.43% +115.27 S&P 500 3046.77 +0.33% +9.88 NASDAQ 8303.97 +0.33% +27.12   Most Active DOW NAME LAST CHG %CHG AAPL 243.26 -0.03 -0.01% PFE 38.48 +0.27 +0.71% MSFT 144.61 +1.78 +1.25% S&P 500 NAME LAST CHG %CHG GE 10.11 +1.04 +11.47% AMD 33.13 +0.10 +0.30% BAC 31.62 -0.45 -1.40% NASDAQ NAME LAST CHG %CHG AMD 33.13 +0.10 +0.30% AAPL 243.26 -0.03 -0.01% FB 188.25 -1.06 -0.56% EDITOR'S NOTE Let's hope the Federal Reserve is indeed done cutting rates.   Three rate cuts historically precede a stock market rally, writes CNBC's Maggie Fitzgerald. But more than three reductions could portend a recession.   In the chart below, look at what happened in 1996 and in 1998, after three rate cuts, and in 2001 and 2007 after more than three.     Clearly, the third time is the charm, if there's any charm at all in a slowing economy.   The nation's gross domestic product growth slowed to 1.9% in the third quarter, down only slightly from 2% in the second quarter, and it was not as bad as the forecast for only 1.6% growth.   As expected, the Federal Reserve announced a third 25 basis point cut on Wednesday and changed some key language in its policy statement from "act as appropriate" to "access the appropriate path."  Fed Chairman Jerome Powell said the central bank would need to see a "really significant" rise in inflation before hiking rates.    The stock market rose on the news.    If the three-cut trend repeats, stocks could be headed higher still.    Navigating the world of financial products such as credit cards can be confusing. That's why we launched CNBC Select where we simplify the process by crunching the numbers, reviewing dozens of offers and providing you with all the information you need in one place. Click here to learn more. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Stocks jump after Fed cuts rates again Fed cuts interest rates, but indicates a pause is ahead Powell says the Fed would need to see a 'really significant' rise in inflation before hiking rates Here's how the Fed rate cut affects you US GDP rose a better-than-expected 1.9% in the third quarter as consumers continued to spend The international summit where Trump and Xi were planning to sign a trade deal has been suddenly canceled Fiat Chrysler and Peugeot reportedly reach deal to merge Boeing CEO grilled over salary, accountability in second day of congressional questioning Business investment drops 3% in third quarter amid trade war uncertainty Goldman analyst after GrubHub's 40% plunge: 'We got this wrong'     TOP VIDEO Ritholtz' Josh Brown on rate cut: Powell delivered what market wanted   SPECIAL REPORTS Charts suggest this sector is readying for a major breakout Market's record rally is running out of fuel, investor Peter Boockvar warns   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