Turning attention to Thursday's FOMC decision
Main U.S. indexes surge; Dow out front, up ~3.5%
Financials lead S&P sector gainers; Real Estate weakest group
Dollar jumps; bitcoin up >8%; crude slips; gold down ~3%
U.S. 10-Year Treasury yield advances to ~4.41%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
TURNING ATTENTION TO THURSDAY'S FOMC DECISION
Goldman Sachs Research's U.S. chief economist, David Mericle, is expecting a 25 basis point rate cut at the conclusion of the latest FOMC policy meeting on Thursday.
In a note out on Monday, Mericle said he sees market debate of an upcoming skip as "premature."
"We do not expect significant revisions to the FOMC statement or much guidance about upcoming meetings," writes Mericle.
He says that Fed officials have recently called for continuing to reduce the funds rate gradually toward a more neutral level.
Mericle expects cuts to remain consecutive at least through December on the grounds that Fed officials might want to see several months of labor market stabilization before relaxing entirely. Additionally, given that the high level of the funds rate may be having a restrictive impact on the economy, he thinks the Fed might want to bring it down a bit further before considering slowing the pace.
In any event, Mericle says he is "penciling in four more consecutive cuts in the first half of 2025 to a terminal rate of 3.25-3.5%," but at the same time he sees "more uncertainty about both the speed next year and the final destination."
"If the unemployment rate holds steady or falls and the activity and job growth numbers remain solid for a while, then an every-other-meeting pace could become a plausible alternative path," writes Mericle.
(Terence Gabriel)
*****
FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
MOMENTUM HAS BEEN THE HORSE TO BEAT, BUT ARE SMALL AND MID CAPS MAKING A RUN? - CLICK HERE
MORTGAGE SEESAW: RATES JUMP UP, DEMAND TUMBLES - CLICK HERE
U.S. STOCKS SURGE TO RECORD HIGHS, BUT TRADERS EYE YIELD JUMP- CLICK HERE
FROM RED TIDE TO GREEN TIDAL WAVE, U.S. STOCKS POISED TO JUMP ON TRUMP WIN - CLICK HERE
U.S. FISCAL RISKS MAY LURE BOND VIGILANTES - CLICK HERE
STOXX EYES BEST DAY IN A YEAR, VOLATILITY CRUSHED - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES RISE, NOVO EARNINGS - CLICK HERE
'TRUMP TRADES' IN FULL SWING - CLICK HERE
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
