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FOMC Preview: How Likely is a Rate Hike?

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What’s in Today’s Report:

  • FOMC Preview: How Likely Is a Rate Hike?
  • The Real Reason Oil Plunged on Monday

Futures are modestly lower following a quiet night of news as markets digest recent tech volatility ahead of earnings while oil fell further on U.S./Iran ceasefire optimism.

Oil prices declined another 2% overnight on more positive ceasefire commentary from Washington.

Today economic data centers on housing via the Case-Shiller Home Price Index (E: 0.0%) and FHFA House Price Index (E: 0.0%) and since they can be big influences on inflation stats (especially CPI), better than expected numbers will be a mild positive.  We also get Consumer Confidence (E: 92.3) but that shouldn’t move markets.

On earnings, the key tech reports start tomorrow but some reports we’re watching today include: PYPL ($1.28), BA ($-0.34), KO ($0.92), UPS ($1.65), DINO ($4.39), V ($3.23), STX ($4.89) and ENPH ($0.16).

 

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