It’s a big week on tap for financial markets as the FOMC meets on Tuesday and Wednesday. While odds of a cut at this meeting are low, with the probability of a cut at the July meeting still over 80%, investors will be looking for some direction as to whether those high odds are warranted or misplaced. Ahead of the meeting, investors have been pretty much sitting on their hands for the last several days not wanting to take a stand in either direction.
Please read today’s Morning Lineup for a recap of markets in Asia and Europe overnight and this morning, as well as a dive into the latest export numbers out of Singapore, suggesting that global trade activity remains healthy.
As mentioned above, investors have been on the sidelines over the last few days ahead of this Wednesday’s FOMC meeting, and the chart below from page two of the Morning Lineupillustrates that holding pattern. The fact that the S&P 500 and just about every sector have little or no tails on them indicates how little in the way of movement there has been over the last week.
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