US stock index futures pointed to a fractionally higher opening this morning (SPY +0.3%) as investors focused on the Fed's meeting today. 25 basis points hike are already priced in with odds over 90%. Crude prices are trading higher after a surprise drawdown in U.S. crude stockpiles.
Here is the current market situation from CNN Money
European markets are mixed today. The FTSE 100 is up 0.21% while the CAC 40 gains 0.09%. The DAX is off 0.02%.
Looking at the last three columns (below), the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
WASHINGTON (Reuters) - The Federal Reserve is expected to raise interest rates for the second time in three months on Wednesday, encouraged by strong monthly job gains and confidence that inflation is finally rising to its target.
(Reuters) - U.S. stock index futures were slightly higher on Wednesday as investors focused on a Federal Reserve meeting, where the central bank is widely expected to raise interest rates for the second time in three months.
INGOLSTADT, Germany (Reuters) - German prosecutors searched Audi's two biggest plants and several other sites on Wednesday in connection with an emissions cheating scandal, adding to pressure on Volkswagen's luxury division and its Chief Executive Rupert Stadler.
SYDNEY (Reuters) - The co-founder of Australian software firm Atlassian Corp Plc said on Tuesday he was close to meeting a self-imposed one-week deadline of getting political and financial support for a plan to use batteries from Tesla Inc to bridge an electricity supply gap in South Australia.
NEW YORK (Reuters) - Wells Fargo & Co, Royal Bank of Scotland Group Plc and Deutsche Bank AG have reached a $165 million class-action settlement of investor claims over their underwriting for the now-bankrupt subprime lender NovaStar Mortgage Inc.
BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said on Wednesday he was looking forward to the first meeting with his U.S. counterpart Steven Mnuchin on Thursday, adding he did not expect him to come to Germany with a closed mind on all matters.
While it has been a quiet session so far, today's events have the potential to substantially boost market volatility. Here, courtesy of JPM's Adam Crisafulli, is the "bottom line for domestic equities" and what to watch for among today's information barrage.
Market update - it was another relatively quiet night of news. US futures and Eurozone stocks have a small bid ahead of a busy morning of domestic eco data and the FOMC decision. Oil prices are rebounding thanks to supportive API data and pos. comments from Saudi Arabia and Goldman. Opposition to Ryan's HC bill remains intense w/conservatives in the House still not thrilled (despite the pos. CBO fiscal score) while Senate moderates (as many as 12) are demanding substantive changes (any changes will further undermine House support) and the grassroots Republican press is urging Trump to abandon the legislation.
The healthcare obstacles are ostensibly negative for tax reform although there is more talk about Republicans pivoting away from repeal/replace and focusing their energies on taxes and economic growth (before that time comes though Ryan will still try to drag his bill through the House).
The bottom line for domestic equities remains the same: the SPX is only back to where it stood before Trump spoke in front of Congress on 2/28 (the index is down just ~1.5% from the 3/1 2400 high) and the larger risk remains whether the index retraces the whole "phenomenal" rally (which would move it back to 2300 or lower). Whether that happens will likely come down to Washington - investors still seem willing to give Trump/Ryan/McConnell the benefit of the doubt on HC until at least the end of Mar but tax doubts are rising.
Calendar for Wed 3/15 - the focus will be on the US Mar Empire Manufacturing (8:30amET), the US CPI and retail sales numbers for Feb (8:30amET), the NAHB housing index for Mar (10amET), the FOMC decisio ...
After a several day self-imposed silence, Trump took to Twitter on Tuesday morning, slamming both Snoop Dogg's recent controversial music clip and last night's MSNBC leak of his 2005 tax return.
Two days after rapper Snoop Dogg released a music video in which he shoots a "f--king clown" dressed as Trump with a toy gun, an angry Trump tweeted "Can you imagine what the outcry would be if @SnoopDogg, failing career and all, had aimed and fired the gun at President Obama? Jail time!"
Can you imagine what the outcry would be if @SnoopDogg, failing career and all, had aimed and fired the gun at President Obama? Jail time!
— Donald J. Trump (@realDonaldTrump) March 15, 2017
As reported before, in the video Snoop Dogg says "this is the final call," before pointing a gun at the head of a cigarette-puffing clown dressed as Trump and pulling the trigger, at which point a "bang" flag shoots out from the music star's gun.
Others criticized Snoop's "artistic" vision previously: "We've had presidents assassinated before in this country, so anything like that, people should really be careful about that kind of thing," Sen. Marco Rubio (R-Fla.) told TMZ after news of the music video broke. "He should think about that a little bit. If the wrong person sees that and gets the wrong idea, you could have a real problem. I think people can disagree on policy, but we've got to be very careful about that kind of thing."
The diplomatic spat between Turkey and the Netherlands spilled into the internet on Wednesday after a large number of Twitter accounts including news agencies, and political entities were hacked by a pro-Turkish group and posted content supporting Turkish President Recep Tayyip Erdogan in his feud with Europe, with hashtags in Turkish reading "NaziGermany" and "NaziHolland."
As Bloomberg reports, the messages and swastikas appeared on the verified Twitter accounts of German newspaper Die Welt, Forbes Magazine, Duke University, BBC North America, UNICEF, and Reuters Japan. Also targeted were the Twitter accounts of the European Parliament, French politicians like Alain Juppé, Sprint's CEO Marcelo Claure, among others. The attacks, which appeared to be simply a form of political vandalism, used the hashtags #Nazialmanya or #Nazihollanda.
The tweets included a swastika and described the attack as a "little Ottoman slap." "See you on April 16," they read, referring to the date of Turkey's referendum to grant more powers to Erdogan, and finish with: "What did I write? Learn Turkish." A four-minute video attached to the tweets begins with an Erdogan speech in which he says: "If we're going to die, let's die like men." It then features scenes from various Erdogan speeches, starting with his showdown with then-Israeli President Shimon Peres in Davos in 2009, as a campaign song chanting his name, "Recep Tayyip Erdogan," plays in the background.
Following the hijacking, BBC North America tweeted that it "temporarily lost ...
The U.S. Air Force picked Elon Musk's SpaceX to blast a second Global Positioning System satellite into orbit, part of a broader drive to open up various other launch contracts for competitive bidding through late 2019.
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