What the Fed Decision Means for Market (Tailwind, For Now)
What the Fed Decision Means for Market (Tailwind, For Now): Start a free trial of The Sevens Report.
What’s in Today’s Report:
- What the FOMC Decision Means For Markets (Tailwind, For Now)
- EIA Analysis and Oil Market Update
Futures are modestly higher on momentum from Wednesday’s rally and following decent tech earnings overnight.
META and QCOM posted solid earnings and guidance and that’s helping support the tech rebound.
Economically, the Caixin Chinese manufacturing PMI dropped to 49.8 vs. (E) 51.5, offsetting slightly better than expected numbers from the EU and UK.
Today is the busiest day of the week (and really the summer) from a calendar standpoint. First, we get the ISM Manufacturing PMI (E: 48.8) followed by Jobless Claims (E: 236K) and Unit Labor Costs (E: 1.9%). To keep Wednesday’s rally going, markets will want to see better than expected numbers across the board to reinforce the idea of a still Goldilocks economy.
On earnings, after the close we get results from two of the most important stocks in the market via AMZN (E: $1.03) and AAPL (E: $1.24) and well as INTC (E: $0.10).
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