Stocks rebounded on September 17 after the previous day’s rout, fueled by oil prices falling below $100 per barrel and Generac’s 27% surge following an Amazon partnership announcement. The Federal Reserve raised interest rates by 25 basis points to a range of 3.75%-4.00%, its first hike since July 2023, causing the Dow Jones to shed 631 points (-1.21%). The Fed’s dot plot projections show 16 out of 18 officials expect at least one more rate increase before year-end, with a median year-end forecast of 4.1%. Despite this technical bounce, strategists remain cautious as September is historically the weakest month for equities and further rate hikes could weigh on corporate fundamentals.
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