June Fed Meeting: How Markets Could React To Rate Decision, Powell's Comments Wednesday
Portfolio Pulse from Piero Cingari
The Federal Reserve is expected to hold interest rates steady at the 5%-5.25% range during the June FOMC meeting. Investors will focus on Fed Chair Jerome Powell's comments and the Fed's median interest rate projections for 2023 and 2024. Market reactions will depend on whether the Fed adopts a dovish or hawkish stance.
June 13, 2023 | 9:03 pm
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NEUTRAL IMPACT
The Invesco QQQ Trust (QQQ) has climbed 35% YTD and is near its April 2022 highs. The June FOMC meeting outcome may influence the ETF's performance.
The QQQ ETF tracks the tech-heavy Nasdaq 100 index, which is also sensitive to interest rate changes and Fed policy decisions. The outcome of the June FOMC meeting, particularly the Fed's stance on interest rates, may impact the ETF's performance in the short term. However, it is difficult to predict the exact direction of the impact without knowing the Fed's decision.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) has reached its highest level since April 2021, increasing 14% YTD. The outcome of the June FOMC meeting may impact the ETF's performance.
The SPY ETF tracks the S&P 500 Index, which is sensitive to interest rate changes and Fed policy decisions. The outcome of the June FOMC meeting, particularly the Fed's stance on interest rates, may impact the ETF's performance in the short term. However, it is difficult to predict the exact direction of the impact without knowing the Fed's decision.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
The Invesco DB USD Bullish Index Fund ETF (UUP) has been stable in the last month. The June FOMC meeting outcome may affect the ETF's performance.
The UUP ETF tracks the US dollar index, which is influenced by interest rate changes and Fed policy decisions. The outcome of the June FOMC meeting, particularly the Fed's stance on interest rates, may impact the ETF's performance in the short term. However, it is difficult to predict the exact direction of the impact without knowing the Fed's decision.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80