What the Fed Decision Means for Markets

What’s in Today’s Report:

• What the FOMC Decision Means for Markets
• FOMC Takeaways
• EIA Data Analysis and Oil Update

Stock futures are under pressure this morning (Nasdaq futures down over 1%) as the 10 year Treasury yield approached a new 52-week high of 1.75% overnight amid further digestion of yesterday’s Fed decision and lingering inflation concerns.

There were no notable economic reports or market moving headlines overnight.

Today, there are two important economic releases to watch ahead of the bell: Jobless Claims (E: 700K) and the Philadelphia Fed Manufacturing Index (E: 24.0) as investors will be looking for continued improvement in these two current month data points.

There are no Fed officials speaking today however the Treasury will hold a 10-Yr TIPS auction at 1:00 p.m. ET and if the outcome triggers a further spike in the 10 year yield, expect selling pressure on tech shares to weigh on the broader equity markets as the Fed decision continues to be digested.