Quarter-Percentage Point: Index and Points

quarter-percentage point: T1 M How are the major benchmarks performing The Dow Jones Industrial Average DJIA, -0.25% ended down 68 points 27,154 and the S&P 500 index SPX, -0.62% was off 18 points at 2,976 while the Nasdaq Composite Index COMP, -0.74% lost 60 points to 8,146, according to Market Watch. What's driving the market Stocks lost altitude after The Wall Street Journal paywall reported that Fed officials, based on recent public statements and interviews, signaled they were ready to cut rates by a quarter-percentage point at their July 30-31 meeting, but weren't prepared to make a half-point reduction. The S&P 500 index rose back above 3,000 level in early trade, but all three benchmarks logged the biggest weekly decline since the end of May. Expectations for a half-point lowering had been on the rise but fell back after the report. Analysts said stocks may have also seen some price swings after reports Friday afternoon that Iran said it seized oil vessels in the Strait of Hormuz, heightening tensions in the region a day after President Donald Trump said a U.S. Naval ship shot down an Iranian drone. Fed-funds futures traders now see a 22.5% chance of a half-point move, down from a more than 40% probability earlier in the day, according to CME Group data. (news.financializer.com). As reported in the news.