(As of 7:25 am PST)
After surging in yesterday’s session, US stocks are on
the mend ahead of today’s kick-off of the Federal Reserve’s two-day policy setting
meeting. Investors appear jittery ahead of the Fed’s meeting which will
culminate tomorrow afternoon with a policy statement that will be under much
scrutiny. One word is all investors are worried about…patience. Will the Fed
remain patient on their timing of a rate hike, or will they remove ‘patient’
from their policy statement tomorrow, indicating they are ready to act? I
suppose we’ll find out tomorrow. In the meantime, there’s a lot of other stuff
happening around the world. European markets are in profit-taking mode today
after a big run recently while Asian markets finished mostly higher. Economic
data at home is light but mostly disappointing adding to the negative
sentiment. Gold is flat today while oil continues to tumble, approaching $43
per barrel. The US dollar is down today while interest rates are lower as money
flowed from stocks to bonds.
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