Why the US Fed may surprise with a 50 basis point hike - Clifford Bennett
The US market closed down Monday ahead of the US Fed's meeting later this week. Clifford Bennett from ACY Securities says there is a fair chance the Fed may still hike by 50 basis points.
Major U.S. stock indexes were dragged lower by declines in tech and other mega-cap shares. Shares in Apple (APPL), Amazon (AMZN) and Alphabet which are all due to post results later this week, all fell. Yet, despite the declines, the S&P 500 is on track to post its biggest January gain since 2019.
Shares of Johnson & Johnson fell after the healthcare giant's strategy to use bankruptcy to resolve the multibillion-dollar litigation over claims its talc products cause cancer was rejected by a federal appeals court.
Today the S&P/ASX200 is expected to ease at the open with retail sales and private sector credit due.
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