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Musk: Grok Code Fast 1 beat Claude Sonnet to rank first on the OpenRouter leaderboard.On August 30, the Neue Zürcher Zeitung newspaper reported that Switzerlands gold industry organization opposes relocating some operations to the United States as a way to mitigate the trade imbalance between the two countries and aid tariff negotiations. The 39% tariffs imposed by the United States on Switzerland are harming Swiss businesses and the broader economy, and the Swiss government is seeking to persuade President Donald Trump to lower them. Some have suggested that relocating gold refining capacity to the United States might be a way to appease Trump. Christoph Wild, president of the Swiss Association of Precious Metals Producers and Traders, stated that the government "should not make hasty decisions." He also stated that Switzerlands large gold export surplus in late 2024 and early 2025 was an anomaly, largely due to traders shipping gold to the United States in advance to avoid potential tariffs.Rosneft CEO: Global oil market oversupply is expected to be 2.6 million barrels per day in the fourth quarter and will fall to 2.2 million barrels per day in 2026.Ukrainian President Zelensky: Moscow used the preparation time for the leaders meeting to launch an attack and called for energy and banking sanctions.According to the Wall Street Journal on August 30, as economists fretted over Trumps relentless pressure on the Federal Reserve in August, US markets sent a different message: "Let the good times roll." Artificial intelligence-related stocks sold off on Friday ahead of the long weekend, but this wasnt enough to derail the stock markets monthly gains. The S&P 500 rose 1.9% in August, the Nasdaq rose 1.6%, and the Dow Jones Industrial Average rose 3.2%. Weak economic data and the muted impact of tariffs on prices so far have given investors more confidence that the Federal Reserve will cut interest rates at next months meeting. Meanwhile, Trumps efforts to keep Fed officials supportive of low interest rates have fueled hopes that further rate cuts may be imminent. Economists warn that a Fed more susceptible to the White Houses influence is more likely to overcut rates, ultimately driving up inflation. If Augusts performance is any indication, the stock market is treating this possibility as a tomorrows worry.

S&P 500 Tests Resistance At 4040 Ahead Of Fed Rate Decision

Cory Russell

Dec 15, 2022 15:44

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Trading bets on a less hawkish Fed help the S&P 500 gain ground.


While traders get ready for today's publication of the Fed Interest Rate Decision, the S&P 500 is rising. The technologically oriented NASDAQ Composite is up 0.3%. After yesterday's CPI statistics, the market sentiment is still upbeat.


A decrease in the demand for safe-haven assets is highlighted by the U.S. dollar's recent trading around multi-month lows. If the Fed continues to take a hawkish position, though, the scenario may swiftly shift.


Currently, traders anticipate that the Fed will announce that, in order to safeguard the economy, interest rates would rise gradually starting in 2023. Recent inflation statistics showed that the Fed's rapid rate rises are having the desired effect, but it is unclear if the Fed would adjust its policies in response to the data.


Trading activity indicates that markets have begun to reflect a less hawkish Fed. As a result, the S&P 500 will be very sensitive to any remarks that may be seen as being hawkish.


The market's response, which will occur after the Fed publishes its announcement, should be noted by traders since it won't be the final one. During the press conference, which will begin 30 minutes after the release of the statement, the S&P 500 will also respond to Powell's remarks.