Fed May Not Be Done Hiking Interest Rates, Missing The Debt Ceiling Deadline Will Cause Disruptions: FOMC Minutes
Portfolio Pulse from Piero Cingari
The May FOMC meeting minutes revealed uncertainty about further policy tightening and warned that missing the debt ceiling deadline could cause financial disruptions. Stocks weakened, with SPY losing 0.8% and QQQ down 0.7%. The dollar outperformed, with UUP surging 0.4%.
May 24, 2023 | 6:23 pm
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POSITIVE IMPACT
The Invesco DB USD Index Bullish Fund ETF (UUP) surged 0.4% after the release of the FOMC meeting minutes, which revealed uncertainty about further policy tightening.
The FOMC meeting minutes showed uncertainty about further policy tightening, which could lead to market volatility and positively impact the UUP ETF in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco QQQ Trust (QQQ) was down 0.7% following the release of the FOMC meeting minutes, which revealed uncertainty about further policy tightening.
The FOMC meeting minutes showed uncertainty about further policy tightening, which could lead to market volatility and negatively impact the QQQ ETF in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) lost 0.8% after the release of the FOMC meeting minutes, which revealed uncertainty about further policy tightening.
The FOMC meeting minutes showed uncertainty about further policy tightening, which could lead to market volatility and negatively impact the SPY ETF in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80