Market track record is not great after rate cuts, history shows

Stocks could be in for a bumpy ride once the Federal Reserve begins cutting interest rates, according to Evercore ISI. Julian Emanuel, strategist at the firm, pulled data going back to 1970 on how stocks perform following the start of rate-cutting cycles from the central bank. Equities tend to pull back in the short term, but the longer-term performance is less uniform, Emanuel said. "Stocks tend to be choppy in the near term either way when the Fed starts cutting," Emanuel wrote to clients in a Sunday note. That's of particular interest given the Fed meeting scheduled for this week. Fed funds futures are pricing in a 100% probability of at least a quarter-point decrease, according to CME's FedWatch Tool. But the S & P 500 has slid 1.3% on average in the 30 days following the commencement