The stock market could do something strange this week after the Fed decision
Odds of more interest rate hikes coming this year have grown.
This week marks a crucial time for the Federal Reserve as they announce their latest rate decision on Wednesday. With inflation data and surging oil prices dominating the headlines, market analysts are closely watching the Fed's move. The S&P 500, Dow Jones, and Nasdaq all saw gains last week, with the S&P 500 rising 0.8%. Chairman Kevin Warsh is expected to deliver a press conference on Wednesday, providing further insight into the Fed's plans.
Manufacturing data, including Empire manufacturing numbers on Tuesday and industrial production data on Friday, will offer additional insights into the AI infrastructure boom. Despite concerns over inflation and the potential impact of a rate hike, investors remain optimistic about the S&P 500, with strategists setting rosy targets for the index.
Meanwhile, the ongoing war in Iran and rising oil prices above $100 per barrel are adding to the market's uncertainty.
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