FOMC Takeaways (Not Good)
What’s in Today’s Report:
- FOMC Decision Takeaways – Not Good.
Futures are slightly higher as markets bounce following Wednesday’s post Fed selloff.
It was a quiet night of news as there were no new headlines on trade, and most commentary focused on the takeaways of the Fed decision.
Economically, UK data was mixed as Nov. Retail Sales were strong (1.4% vs. (E) 0.3%) while Dec. Distributive Trades were weak (-13 vs. (E) 15).
Today focus will remain on the economic data, which becomes even more important in the face of the not dovish enough Fed. We get to notable reports today, Jobless Claims (E: 220K) and Philadelphia Fed Business Outlook Survey (E: 16.5) and if the later misses expectations, look for more selling.