The Odds Of A Fed Rate Cut This Coming Week Are Falling
Michael Kramer | Sep 14, 2019 01:30AM ET
Little happened to stocks on Friday, but let's not lose sight of the positive week. Odds of the Fed cutting rates during the Fed meeting this coming week are suddenly less certain.
MACRO
Fed Futures
Fed Funds futures are currently trading at 1.875%, which fall pretty much in the middle of the 1.75 and 2% range. That rate has been on the rise since the beginning of September. Additionally, the CME Group now projects just an 80% chance of a 25 bps rate cut next week. That is down from a 90% chance last week.
So we can wait and see what develops next week. I’d be surprised if the Fed doesn’t cut rates.
S&P 500 (SPY)
It looks like there is a bullish pennant pattern that is forming on the intraday of the S&P 500. I think it is positive for the start of next week.
STOCKS
Freeport (FCX)
Freeport (NYSE:FCX) finally reached my target today of 11.00, and with that, we can check that one-off. I’m not sure what happens next. I will have to keep an eye on things.
Apple (AAPL)
Get The News You Want
Apple (NASDAQ:AAPL) bounced off support Friday where it was supposed to at $217.40. The trend is still higher.
Square (SQ)
Square (NYSE:SQ) bounced some Friday, but the trend is still lower.
Original Post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.