Wall Street Breakfast: Dovish Signals Loom Large

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President Trump may finally get the rate cut he has been demanding as top Fed officials began warning this week that the global trade war may force them to respond. Chair Jerome Powell made a subtle move in that direction on Tuesday, dropping his standard reference to the Fed being "patient," and said it is prepared to "act as appropriate to sustain the expansion" amid intensifying trade tensions. Futures are now pointing to opening gains in the U.S., up about 0.6%, after the major indexes yesterday had their second-best day of 2019. The DJIA rose 512 points, while the S&P 500 jumped 2.1% and Nasdaq Composite surged 2.7%.

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