What the Fed Decision Means for Markets
What’s in Today’s Report:
- What the Fed Decision Means for Markets
- EIA Takeaways and Oil Market Update
Futures are moderately higher thanks to strong earnings from AAPL and FB combined with the market digesting the Fed’s still dovish message from yesterday. Economic data was sparse overnight as German Unemployment met expectations at 6.0% and isn’t moving markets.
Today focus will be on important earnings and economic data. Economically, the key report will be weekly Jobless Claims (E: 558K) and markets will want to see that number keep most of the gains of the past two weeks. We also get Advanced Q1 GDP (E: 6.5%) and that will generate a lot of headlines, but remember it’s an “old” number by now (it measures activity from Jan-Mar). Pending Home Sales (E: 3.8%) will also be released and there are two Fed speakers: Quarles (11:00 a.m. ET) and Williams (2:00 p.m. ET), but they shouldn’t move markets.
Regarding earnings, there are several important reports today including AMZN ($9.75) after the close. Other reports we’re watching today include: MCD ($1.81), RCL ($-4.54), MA ($1.55), CAT ($1.93), and TWTR ($0.14).
