What began as a good day on the market became a very good day indeed later in the afternoon, after the Federal Reserve released the minutes from its last meeting. The bottom line from those minutes: The Fed will be taking an open-ended approach to interest rates, which may stay low in the short term even if employment and inflation hit normal levels.
On Wednesday's Investor Beat, host Chris Hill and Motley Fool analyst Matt Argersinger discuss the move by the Fed, and why the market was so reassured by the news.
Then the guys look at two stocks that got hit on the market today. Intuitive Surgical was down today, after the company warned that its first-quarter revenue would be down by about 24%. Meanwhile, Toyota stock sold off a bit today, on the news that it was issuing a recall of 6.4 million vehicles worldwide. Chris and Matt discuss why this seemingly massive pullback in revenue for Intuitive Surgical may not be as bad as it seems long-term, and why Toyota's recall may be a case of bad timing.
And finally, Matt tells investors why Markel is a stock he's got his eye on at the moment. The stock continues to hit new all-time highs, having just broken the $600 mark for the first time. And with insurance stocks still being one of the few places left on the market to find undervalued stocks, and Markel still trading at less than 1.3 times book value, Matt still sees a lot of value with this stock.
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Chris Hill has no position in any stocks mentioned. Matthew Argersinger owns shares of Berkshire Hathaway and Markel. The Motley Fool recommends Berkshire Hathaway, Intuitive Surgical, and Markel. The Motley Fool owns shares of Berkshire Hathaway, Intuitive Surgical, and Markel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.