Dow Jones, Nasdaq, S&P 500 weekly preview: December FOMC, slew of economic data
Over the week, the Dow declined 1.8%, while the S&P 500 lost 0.6%, snapping a three-week winning streak. The Nasdaq, however, managed to post a weekly gain of 0.3%.
With investors viewing this cut as a near given, even more attention will be focused on policymakers' new economic projections released alongside the decision. “Now markets expect a pause in January, assuming that Fed officials will be worried disinflation has stalled above target. Chair Powell will want to keep all options open, neither ruling-in nor ruling-out a cut at the next FOMC meeting.”
Specifically, a new core PCE report is due on Friday, with UBS strategists expecting a 0.15% increase in November, pushing the annual rate to 2.86%.
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