We’ve been seeing rotations between blue chips one day and tech the next, and Wednesday will be a little different with the latest FOMC rate decision on the table.
The announcement will come at 2 p.m. ET and Fed Chair Jerome Powell will speak at 2:30 p.m. We won’t get a rate cut today or likely any time soon, and the market will be muted up until then.
Even though we won’t get a cut, it will still be a market-moving event and Powell could reveal the Fed’s thinking about future rate cuts.
Sentiment right now still believes there’s a 50% chance we’ll get a cut this summer. As long as Powell doesn’t spoil that sentiment, then the market should remain strong.
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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