Market Outlook Fed decision today

 

US Markets The rally in U.S. markets continued on Tuesday but stalled overnight ahead of today's interest rate decision by the Federal Reserve. By midnight, investors had priced in an 89% chance of a 25-basis point rate hike and an 11% chance of no interest rate hike.  First Republic Bank is down nearly 15% overnight amid concerns that it may fail to raise capital, forcing it to sell off parts of its business or downsize.  Gamestop surged over 50% overnight. It posted a profit in the fourth quarter of 2022 after reporting a loss in the same period a year earlier.  The current 10 Year U.S. Treasury yield is set at 3.59130% Dow Jones  32,560.60 0.98% S&P 500  4,002.87 1.30% Nasdaq  11,860.11 1.58% Russell 2000 1,777.74 1.88% *Stock Market data as of the last closing bell. Data received directly from the reference indexes through ICE Data Services. Do you not understand any of these figures?

Canadian Markets Canada's Consumer Price Index rose 5.2% in February, down from a 5.9% increase in January.  It was the biggest drop in the inflation rate since January 2022. Food prices rose steeply last month, up 10.6% year over year.  Gas prices declined for the first time since January 2021. Inflation in Canada peaked at 8.1% in June 2022. TSX  19,654.92 0.69% *Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services

European Markets Markets rose in Europe on Tuesday as investors reacted positively to UBS's acquisition of Credit Suisse.  The Stoxx 600 gained 1.3% on the day, led by a 4.4% increase in financial stocks.  Bank stocks jumped 3.8% while Insurance stocks rose 2.9%.  Credit Suisse gained 7% on the day while UBS surged 12%.  Euro STOXX 50  4,181.60 1.51% UK (FTSE 100)  7,536.22 1.79% Germany (DAX)  15,195.34 1.75% France (CAC 40) 7,112.91 1.42% *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.

Asian Markets Stocks in Asia were up on Wednesday morning ahead of the Federal Reserve's monetary policy decision later today.  The Hang Seng tech index rose almost 2.5%, as tech companies led gains in Hong Kong.  Nike reported that its sales in China fell by 8% in the quarter ending Feb. 28, compared to a year earlier. The drop occurred even though China reopened its economy and lifted pandemic restrictions at the end of 2022.  Financial markets in Japan rose significantly. Mitsubishi UFJ Financial led gains with a nearly 5% increase.  S&P Asia 50 4,584.40 3.35% Japan (Nikkei 225) 27,477.10 1.97% South Korea (KOSPI) 2,414.77 1.11% China (Hang Seng) 19,734.83 2.47% India (SENSEX) 58,074.68 0.77% *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.

Commodities Oil prices rebounded on Tuesday after hitting a 15-month low on Monday.  Brent gained 0.95% on the day and U.S. West Texas Intermediate crude rose 1.2%.  The inventory report from the American Petroleum Institute due later today is expected to show a decrease in stockpiles.  OPEC+ could consider more supply cuts when it meets in two weeks amid fears of declining demand.  Oil (NYSEARCA:OIL) 26.69 2.65% Gold (NYSEARCA:GLD) 180.37 -1.89% Silver (NYSEARCA:SLV) 20.54 -0.72% Corn (NYSEARCA:CORN) 24.52 -0.93% Lumber (NASDAQ:WOOD) 71.06 0.91% *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, .

Currency Exchange Rates The U.S. Dollar fell on Tuesday ahead of today's Fed decision.  The U.S. Dollar Index dropped 0.15% to 103.10.  The British Pound also fell ahead of Thursday's monetary policy decision by the Bank of England.  The Australian Dollar lost ground after minutes from the last monetary policy meeting indicated that the Reserve Bank of Australia may leave rates steady in April.  UK(GBP) £0.82 -0.31% Europe (EURO) €0.93 -0.87% Canada (Canadian Dollar) $1.37 -0.05% Japan (Yen) ¥132.49 0.15% *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them,

Cryptocurrency Crypto prices rose on Tuesday.  Bitcoin rose above the $28,000 price point early on Tuesday and stayed there for the rest of the day.  Bitcoin has gained 21% this month and 70% this year.  Some analysts predict that Bitcoin will continue at its current price level but is unlikely to rise above $30,000 in the short term.  Bitcoin $28,184.90 0.71% Ethereum $1,802.72 3.64% Litecoin $82.28 5.03% Bitcoin Cash $134.11 -1.52% *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them,.