Some Wall Street pundits are cheering for a rate cut. Rate Cuts Are Like RoachesThe Fed is unlikely to cut rates once and leave it be. But you need to be aware that a rate cut now or soon is more likely an admission that the economy is indeed falling over. The table below shows the S&P 500's return over different periods following the first Fed rate cut in a cycle. As you can see, the first rate cut has been a reason to sell the S&P 500, not buy it.

Source: Forbes June 18, 2019 12:56 UTC