Fed Dot Plot in Full View as Market Holds on a Higher Note: Live Stock News
Investors, it's Wednesday, March 19th; do you know where your stonks are? The market opened higher this morning, leading up to an FOMC meeting that, by its outward appearance, looks like it will be a boring one.
$Intel (INTC.US)$ stock was falling 5% or so at open, ending a five-session winning streak after the firm announced a new CEO that was hell-bent on revitalizing the chipmaker's failure to take part in the Semiconductor craze truly. It was the lowest decliner on the S&P 500 and Nasdaq 100.
$Boeing (BA.US)$ was on the other end, climbing 5%, pulling the Dow and 500 higher. The firm's CFO Brian West said they expect less money moving out the door in Q1 than previously expected, right when the firm received an order for 17 more 737-8's from Japan Airlines.
The top investment theme group of stocks tracked by moomoo was $Crypto (LIST20010.US)$ firms, up about 3%, followed by Cruise Lines climbing after Tuesday's selloff. The lowest-reaching theme was Live streaming $Live Streaming (LIST2438.US)$ and Chinese terrific $China's Terrific (LIST23596.US)$ stocks, pulling back after their long run to the top performer section.
Aside from some positive indices and general movement, it mostly looks sleepy. So, what news is the market waiting for before choosing a direction to go?
At 2 pm today, the FOMC will decide on monetary policy and show a forward-looking dot plot of where open market committee members see rates and inflation in the coming year. The dot plot shows how economic policy forecasts change every quarter. In September last year, the committee predicted an average of 4 cuts in 2025 to bring the target rate to a target 3.25 by the end of the year. The FOMC also started their cutting regime with a full 50 basis point cut- from 5.50 to 5/4.75.
But in December, that tune changed, as inflation looked a little more sticky even after a November rate cut, and the future rate dots moved higher, showing above an average 3.75 target rate by the end of 2025. They also cut the target rate by another 25 basis points, landing at the current 4.5 target rate.
The CME FedWatch futures predicting tool seems to think with certainty that rates will stay the same this afternoon, but as Fed fans know from the past, futures may not always be right. All eyes will watch the dot plot to see how many cuts are coming for rates this year.
$Bitcoin (BTC.CC)$ was climbing higher, $Crude Oil Futures(JUN5) (CLmain.US)$ lower, while the 10-year $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ seems to have stabilized above a yield of 4.3.
President Trump and President Putin's call Tuesday, delayed an hour as Putin dragged his feet at a separate event, ended in a decision to halt energy infrastructure attacks for 30 days. An hour later, Russian drones bombed a hospital and energy substation in Ukrinane, and Ukraine responded in kind: so much for that deal.
Just past 11:20 am ET the $S&P 500 Index (.SPX.US)$ traded +0.62%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.55%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.87%.
Traders, what do you think? What are you watching on the stock market today? What is the herd following? Let me know in the comments below! $S&P 500 (LIST91326.US)$
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That Funky Guy : I enjoy your articles. Intel isn't on the DOW anymore..
Kevin Travers OP That Funky Guy : thank you funky guy, I must have meant Nasdaq 100, I was wondering why I could not find it earlier to update the price here