FAST FIVE: Futures Push Higher Ahead Of Fed Decision, Retail Sales
Futures Push Higher Ahead Of Fed Decision, Retail Sales Tyler Durden Wed, 09/16/2020 – 07:49 U.S equity futures and European stocks rose as investors awaited the decision of the Federal Reserve's policy meeting later Wednesday and the August retail sales report which was expected to show a modest growth slowdown.
As a result, our US economists don't think there'll be any changes to the Fed's forward guidance on interest rates, but do see the FOMC reframing their asset purchases as being focused on providing accommodation, rather than aiding market functioning.
Overnight one interesting story is that the US Federal Trade Commission, which has been investigating Facebook for more than a year over whether the social media giant has harmed competition, could file a case by the end of the year.
In terms of case numbers, Western Europe remains a source of concern, with the entire Irish cabinet going into self-isolation yesterday after their Health Minister Donnelly had been tested.
Yesterday, we heard from White house advisor and the President's son-in-law Jared Kushner that an agreement may not come until after the election, while Speaker Pelosi threatened to keep the House in session until another fiscal deal is done.