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The US market is waiting for the Fed’s verdict

US stock indexes are growing in the first half of Wednesday’s trading. The results of the Fed meeting will be published today.

There are actual risks of the index descending to the area of ​​3800-3700 p. The potential for decline is up to 3600 p. In the evening, increased volatility is possible. A rebound “after the fact” of the negative news message is possible.

Shares of food maker General Mills and cosmetics and perfume maker Coty added more than 2% after the release of quarterly reports.

Fed meeting

The results of the event will be presented at 21:00 Moscow time. Data from the derivatives segment (CME FedWatch service) indicate an 82% chance of an increase in the key rate by 0.75 percentage points, up to 3-3.25%. The remaining 18% are accounted for by 1 p.p.

Simultaneously, the FOMC digital forecast will be presented. A revision of the long-term estimate of the key rate is possible, taking into account the slowdown in the US economy. A related process is the possible acceleration of the Fed’s balance sheet winddown.

Jerome Powell’s press conference starts at 21:30 Moscow time.

US existing home sales fell 0.4% (mom) in August after falling 5.7% in July, better than expected.

About author

Oxford graduate with honors. He worked in large financial projects for well-known Wall Street corporations. After he earned his first capital and a reputation as a successful trader, he opened his own company. At the moment, the growth of the company's capital is 20% per year.
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