From CNBC's "Stock futures fall as traders await the Federal Reserve’s latest rate hike decision" posted early Wednesday:
Stock futures slipped Wednesday as investors looked ahead to the Federal Reserve’s Wednesday meeting...
The Fed at 2 p.m. ET will announce how much it is increasing interest rates in its latest effort to tame high inflation. Markets are expecting a 25 basis point, or 0.25 percentage point, bump from the central bank. On Tuesday, the employment cost index, a measure of wage increases, showed compensation rose 1% in the fourth quarter, less than the 1.1% estimate by Dow Jones.
Still, traders may be getting ahead of themselves in expecting a more dovish tone from the Fed, or looking for signs that a pause in hikes or even a pivot is coming soon.
“Aggressive tightening in 2022 has led to signs of decelerating inflation but from levels that remain unacceptably high,” Ron Temple, chief market strategist at Lazard said in a Tuesday note. “With a 25bps hike already discounted by markets, Powell’s task is to unambiguously signal the Fed’s commitment to tame inflation.”
Charts: Yahoo!Finance sees a bearish relative-strength-index (RSI). Max pain is still in bed.
Only really strong guidance from management will prevent further decline.
““The policies that Apple and Google have in place in their own mobile app stores have created unnecessary barriers and costs for app developers, ranging from fees for access to functional restrictions that favor some apps over others” the report said.
In an op-ed in The Wall Street Journal in January, Biden called on Democrats and Republicans to rein in large tech firms without mentioning Apple or Google by name.
“When tech platforms get big enough, many find ways to promote their own products while excluding or disadvantaging competitors — or charge competitors a fortune to sell on their platform,” Biden said. “My vision for our economy is one in which everyone — small and midsized businesses, mom-and-pop shops, entrepreneurs — can compete on a level playing field with the biggest companies.”“
With whom?
He still might take the fifth – or maybe a couple of them.
Max Pain and all the AAPL shorties just got a Fed smackdown. Breaks my heart – not.