After latest inflation data showed a cooling of prices of essential items, the US market opened strongly last night before profit-taking took some of the gains off the table.
All eyes will be on the FOMC’s rate decision after the end of the 2-day session tonight. The market is expecting a pivoting by the Fed on the cooler-than-expected latest inflation print and pricing a 50 basis points rate increment, ending consecutive 75 basis points hikes.
More importantly will be the Fed’s expectation on the inflation trend and economy health on the back of recent monetary tightening, as the job market has remained robust.
Hopefully, the Fed’s final rate decision of this year will bring cheers to the otherwise volatile market so far this year and usher in a Santa Claus Rally to recover some lost ground in our portfolios.
Prices of some stocks have been struggling near their record lows, such as $Tesla Motors(TSLA)$
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