Benign Inflation Today Keeps Fed Rate Hike At Bay: Economists Expect Powell To Hold Steady After Latest Data, Markets Find Relief
Portfolio Pulse from Piero Cingari
The Federal Reserve's preferred measure of inflation for September was in line with Wall Street economist expectations, leading to increased confidence that the Fed will not raise rates again in the near future. This news has led to a rebound in U.S. stocks, with the tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) rallying 1%, the broader S&P 500 ETF Trust (NYSE:SPY) 0.1% higher, and the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) down 0.2%.
October 27, 2023 | 3:20 pm
News sentiment analysis
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NEGATIVE IMPACT
The Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) was down 0.2% following the news of the Fed's likely decision to hold rates steady.
The news of the Fed's likely decision to hold rates steady has led to a decrease in the Invesco DB USD Index Bullish Fund ETF, as traders reduced the marginal rate hike bets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Invesco QQQ Trust (NASDAQ:QQQ) rallied 1% following the news of the Fed's likely decision to hold rates steady.
The news of the Fed's likely decision to hold rates steady has led to increased confidence in the market, leading to a rally in stocks, including the tech-heavy Invesco QQQ Trust.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The S&P 500 ETF Trust (NYSE:SPY) was 0.1% higher following the news of the Fed's likely decision to hold rates steady.
The news of the Fed's likely decision to hold rates steady has led to increased confidence in the market, leading to a slight increase in the S&P 500 ETF Trust.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80