(As of 7:15 am PST)
US
equities opened slightly lower Monday in a much anticipated week which will be
highlighted by the Federal Reserve’s rate decision on Thursday. With an empty
economic calendar set for Monday, investors are gearing up for the two day FOMC
meeting that kicks off on Wednesday. There is a feeling that this month’s rate
decision is truly a toss-up. Economic data has been strong enough lately to
support a rate increase, however unstable conditions in China and the rest of
the emerging world have some analysts betting that the Fed will delay its plans
to raise interest rates. The uncertainty
will likely lead to heightened volatility through Thursday. In overseas action
today, Asian indexes finished mixed with China’s Shanghai index dropping 2.66%
on the day as disappointing economic data over the weekend set a negative tone
for Chinese investors early. European stocks are heading lower in the final
hour of trade. Gold is hovering just above $1100 per oz. today while oil is
trading down slightly. Treasury prices are getting a bid up on safe haven
buying as the 10 yr. yield is down to 2.17%.
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