The Market Brief
Hey team. US stock futures gained as investors looked ahead to Apple’s earnings for the next test of resilience in the technology sector.
Let’s see what’s ahead for the market!
Impact Snapshot
The FOMC left interest rates unchanged at 4.5%
Jobless claims drop sharply in latest week
GDP grew at 2.3%, Slowing More Than Expected
Key Earnings After close: AAPL 0.00%↑ V 0.00%↑ INTC 0.00%↑
Macro Viewpoint
U.S. futures climbed on Thursday, following a pause in the Federal Reserve’s rate-cutting cycle, with megacap stocks gaining ground after strong earnings reports.
Fed officials noted that inflation remains somewhat elevated, omitting previous references to progress toward the 2% target.
The central bank’s statement also highlighted that the unemployment rate has stabilised at a low level, reflecting the resilience of the labor market.
On Wednesday, Fed Chair Jerome Powell emphasised that interest rates would remain within the 4.25%-4.5% range for the foreseeable future.
The strength of the U.S. economy and a stable labor market have provided policymakers with the flexibility to delay further rate cuts. “We do not need to be in a hurry,” Powell stated.
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