The Market Brief
Hey team, the market has fully recovered from the recent lows, negating Monday’s pullback.
Let’s recap yesterday’s session and see what’s next!
Impact Snapshot
🟥 FOMC Meeting Minutes - 2:00pm
Macro Viewpoint
Stock index futures declined on Wednesday as investors anticipated the release of minutes from the Federal Reserve's latest meeting, seeking clues about the future direction of interest rates.
Indexes closed higher on Tuesday, recovering from Monday's selloff, with technology stocks leading the gains as U.S. Treasury yields eased.
The tone of the Fed minutes is unlikely to alter expectations of additional rate cuts.
The Fed is still playing catch-up with slowing inflation in the U.S. and began cutting rates later than anticipated. However, the minutes may help shape expectations around the pace of future easing.
This week's trading has been choppy as investors adjust their expectations for rate cuts and await new catalysts to set a clear direction, with a focus on key inflation data and the kickoff of the third-quarter corporate earnings season.