“Market opened in the red on this Fed day. Rates won’t hike, but how the FOMC frames the outlook for the US economy will move the Market.”
Market opened in the red on this Fed day. Rates won’t hike, but how the FOMC frames the outlook for the US economy will move the Market. Economic data has been a little mixed of late, showing some signs of sluggishness. ADP had an inline report for private sector jobs. The Non-Farm payroll report comes Friday. Interest rates are ticking down ahead of the Fed statement. Apple had another solid Qtr, despite missing on revenues. The stock is slightly down on the news weighing a little on the major indices in early trading. The French election is gaining momentum again, with a candidate debate today. The vote is Sunday and will be watched very closely. The EU issued a bigger bill to the UK for Brexit. No surprise, the Brits are pushing back. President Trump sent another head scratching tweet, saying a government shutdown would be good. The price of Oil remains weak, below $48 now, near the lows on the year. Gold has been weak as well.
Have a great day.
Mike
