(As of 7:05 am PST)
Stocks are hovering near the unchanged line ahead of the
two day Fed policy meeting that kicks off today. The Federal Open Market Committee’s two day
policy meeting begins today with investors worried that the Fed may take a
hawkish stance to raise interest rates in the near term. The concern led to a mostly risk-averse day
for US stocks yesterday led by a 1% sell-off on the tech-heavy Nasdaq, its worst
daily loss in 6 months. Economic news is
light today. A report on producer prices
showed prices flat for August, indicating inflationary pressure may be cooling.
In international news, Asian stocks finished broadly lower after disappointing
economic data. European markets are also lower as a survey on Germany’s
economic outlook added to concerns over this week’s Scottish referendum. Today
and tomorrow could be volatile as investors speculate on the Fed’s next move.
No comments:
Post a Comment