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By Staff Reporters
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U.S. stocks went up sharply in the first trading session of the week. The equity markets await tomorrow’s key consumer inflation report, as it could have an impact on the Federal Reserve’s interest rate decisions. Tomorrow, the Fed will release its monetary policy decision, in which it is expected to raise rates by 50 basis points (bps), compared to the 75 bp rate hikes that were delivered in the past four meetings.
Treasury yields gained ground ahead of the data, the U.S. dollar advanced, and crude oil prices were higher, while gold saw some pressure. The economic front was void of any notable releases, while M&A action dominated today’s equity news, with Amgen agreeing to acquire Horizon Therapeutics in a deal valued at $28.3 billion, Coupa Software announcing that it will be taken over by Thoma Bravo for at $8.0 billion, and Weber reporting that it will also go private for $3.7 billion.
Asian stocks finished lower as the international markets await the U.S. inflation data and the Fed’s decision.
European stocks traded mostly to the downside as the Fed’s decision will be followed by Thursday’s monetary policy announcements from the European Central Bank and Bank of England.
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CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: Alerts Sign-Up, Investing, LifeStyle | Tagged: Federal Open Market Committee, FOMC, inflation, inflation data, stocks up |
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