Wednesday, stocks did not offer any good news yesterday but there was good news. Locally there is a lot of good news.
The Fed cut interest rates but it didn't help stocks. "You can't solve a physical constraint with a monetary policy." The last time the Fed tried this was during the oil embargo in the 1970's. I remember how that turned out.
The 10 years Treasury is now below 1%.
The only winners yesterday were bonds and gold.