What Would Cause the Fed to Cut Rates Again? (Two Answers)
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What’s in Today’s Report:
- What Would Cause the Fed to Cut Rates Again? (Two Answers)
Futures are modestly higher despite mixed tech earnings.
TSLA (up 3% pre-market) and META (up 1% pre-market) results were “fine” while MSFT disappointed (MSFT down 4% pre-market) but none of the results were surprising enough to impact the broader tech sector.
Today will be a busy day of economic data and earnings including, in order of importance, the ECB Rate Decision (E: 25 bps cut), Jobless Claims (E: 224K), Advanced Q4 GDP (E: 2.7%) and Pending Home Sales (E: 0.4%). And, following yesterday’s Fed meeting, it remains the case that in-line to slightly weak results are the “best” case for stocks as they imply solid growth but keep rate cut expectations stable.
On earnings, the key results today include: AAPL ($2.36), INTC ($0.12), V ($2.66), UPS ($2.52), MA ($3.68), CAT ($4.97).
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