Click to vote. Guess How will$SPDR S&P 500 ETF Trust(SPY)$ close on Wednesday 21 Sept? If you get correct answers, you can get 10 Tiger coins.
Stock futures pointed to more losses Monday — following the major averages’ worst week since June — as interest rates surged ahead of the Federal Reserve’s two-day meeting this week. Stocks had been falling following last Tuesday's report on consumer inflation for August. The consumer price index for August was up 0.1% instead of falling 0.1%, as expected by economists. As a result, expectations have increased for interest rate hikes by the Federal Reserve in its fight against inflation.On Wednesday, all eyes will be on the Federal Reserve meeting Tuesday and Wednesday. The Fed is expected to raise its target fed funds rate by another 75 basis points Wednesday and also provide new forecasts on the economy, inflation and interest rates.
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💰Activity Details
- Click to vote. Guess How will$SPDR S&P 500 ETF Trust(SPY)$ close on Wednesday 21 Sept? If you get correct answers, you can get 10 Tiger coins.
- You have the chance of winning 100 Tiger coins by expressing your views in the comment section.
The event will last until 23:00 on Wednesday 21 Sept SGT?
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Comments
The recent rhetoric from the Feds have been hawkish with Jerome Powell saying that the Feds "will keep at it until the job is done".
We had a rude awakening last week on Tuesday when the US markets snowdived with the 3 major indexes having their worst day since June 2020. That day the S&P500 fell 4.3%!
Inflation is like a bad boy that refused to be controlled and is persistent at a high level of 8.3%. The Wall Street gurus are predicting a 86% likelihood of 0.75% increase and a 14% likelihood of 1% increase.
So I believe that the markets are already pricing in that 0.75% increase and predict that SPY will close flat at 380 to 385.
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