What the Fed Decision Means for Markets (Bullish Short-Term but Not Long Term)
What’s in Today’s Report:
- What the Fed Decision Means for Markets (Bullish Short-Term but Not Long Term)
Futures are moderately lower as disappointing ORCL earnings reversed Wednesday’s post Fed rally.
ORCL posted underwhelming quarterly results (ORCL down –11% pre-market) and did little to reduce fiscal concerns, further stoking AI skepticism and weighing on tech broadly.
Economically, the only notable report overnight was Italian Unemployment which met expectations (6.1%).
Today focus will be on economic data via Initial Jobless Claims (E: 220k) and an in-line number will be generally positive for markets as it implies solid growth. Beyond economic data, important earnings loom after the close including, in order of importance: AVGO ($1.49), LULU ($2.22), COST ($4.26) and RH ($2.13). Solid AVGO earnings to help offset ORCL disappointment would help the market finish the week strong.