Stabilizing after yesterday’s US index losses of 0.6% to 1.7%, US index futures are trading flat to up 0.3% this morning. Over in Europe, the Dax is down 0.6% and the FTSE is down 0.2%. The US 10-year treasury note yield is steady near 4.25%. Gold is up 0.1%, trading near $3,045/oz. Crude Oil is down 0.2%, Copper is up 0.6%.
All eyes are on today’s Fed interest rate decision, statement, and member projections at 2:00 pm EDT, followed by Chair Powell’s press conference at 2:30 pm. The US central bank is not expected to change the current Fed Funds band of 4.25%-4.50% today. Investors may look to statement, forecasts or other comments for indications on whether or not the Fed sees a recession on the horizon, the potential implications of tariffs, trade wars and government spending cuts on the economy and inflation, and if their outlook on the future part of interest rates has changed.
Tomorrow, the Swiss National Bank is expected to cut its benchmark interest rate by 0.25% to 0.25%, while the Bank of England is expected to maintain its benchmark rate at 4.50%. There are a number of notable earnings reports due Thursday, including FedEx, Nike, Lennar, and Micron Technology.
Last week on March 11th, Colin Cieszynski joined Paul Bagnell on BNN’s ‘The Street’, to provide insight into how investors are navigating a market selloff. Visit the LINK to view the interview.