Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
By Staff Reporters
***
***
U.S. equities did an about-face and finished lower following the monetary policy decision from the Fed. The Central Bank increased the target for its benchmark interest rate by 50 basis points (bps), which was widely expected and a moderation from the 75-bp hikes over the past four meetings. However, in his presser Chairman Powell reiterated that the Committee still had a ways to go to reach its goals.
Treasury yields finished little changed in choppy trading after the Fed’s announcement, and the U.S. dollar was lower, while crude oil prices gained ground and gold traded to the downside.
Equity news was on the lighter side, as Delta Air Lines increased its Q4 earnings outlook and offered upbeat long-term guidance, while Lennox International issued a 2023 forecast that missed estimates.
On the economic front, mortgage applications snapped a two-week losing streak, and import prices moderated more than expected.
Asia finished mostly higher following yesterday’s favorable U.S. inflation report, while markets in Europe diverged as investors awaited today’s Fed decision, which will be followed by tomorrow’s announcements from the European Central Bank and Bank of England.
***
CITE: https://www.r2library.com/Resource/Title/082610254
***
***
COMMENTS APPRECIATED
Thank You
****
Share this:
Filed under: "Advisors Only", Accounting, Alternative Investments, Glossary Terms, Interviews, LifeStyle | Tagged: FOMC's, markets down, monetary policy |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
Leave a Reply