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Data hounds get their fix today, with gross domestic product, durable goods orders, and personal income among the highlights. Volume might sag as the day continues.
The market keeps knock, knock, knocking on the door of 20,000. It’s the story that doesn’t seem to end.
The Bank of Japan (BOJ) decided to hold interest rates steady early Tuesday, and upped its views on the economy. The news provided positive early momentum.
Americans seem to be enjoying the holiday season so far, eating out more and loading up on their shopping. Restaurant sales hit their highest since February.
It looks like the Dow Jones Industrial Average (DJIA) may put in its sixth-consecutive week of gains, and other indices also showed strength early Friday.
Sometimes the Fed does what everyone expects. Once in a while, it delivers a surprise. On Wednesday, the market got a bit of both.
Fed ups benchmark by quarter point and notes that improving economy may support three more hikes in 2017; end game may be at 1.25%-3.0%.
The Fed is front and center, and with a rate hike pretty much a foregone conclusion, all eyes are on what Fed Chair Janet Yellen might say.
Let the fun begin. Or is it, let the Fed begin? Indeed, today marks the start of another Fed meeting, and pretty much the entire world seems to expect a rate hike.
Fed week is here, but one could be forgiven for thinking it seems anti-climactic. Odds for a rate hike stood at 97% as of midday Friday, according to futures trading.
Can the major indices achieve new all-time highs Friday as the post-election party rolls on? Possibly, but be on the lookout for pre-weekend profit taking.
Even as stock indices hit new highs Wednesday, fear seemed to creep back into the market, but bonds and VIX eased early Thursday.
A holiday mood seems to be settling into the markets, with low volatility and another flat open Wednesday amid little news of note.
After a booming start to the week, stocks seemed set for a bit of a pause early Tuesday. Trade balance and factory orders data could help set the tone.
This coming week gets sandwiched between the jobs report and the following week’s Fed meeting. So the focus may remain on surging oil prices and bond yields.
Friday’s jobs data came in near expectations, but might not have much impact considering a Fed rate hike is pretty much baked in.