What the Fed Decision Means for Markets (Not a Bearish Gamechanger)
What’s in Today’s Report:
- What the Fed Decision Means for Markets (Not a Bearish Gamechanger)
- EIA Analysis and Oil Update
Futures are lower on underwhelming earnings and further digestions of Powell’s hawkish press conference.
Earnings results have turned more negative this week and that included last night as ATUS and CF both posted disappointing results (among others).
Today’s focus will be on the Bank of England Rate Decision (E: 75 bps hike) and economic data, as we get Jobless Claims (E: 222K), Unit Labor Costs (E: 4.0%) and the ISM Services Index (E: 55.4). Especially in light of Powell’s comments, markets will want to see data that shows resilient economic activity and falling inflation/deteriorating labor markets.
On the earnings front, the season largely wraps up at the end of the week but there are still some important reports to watch today including: COP ($3.41), RCL ($0.23), MAR ($1.69), PYPL ($0.96) and SBUX ($0.73).
