To gain an edge, this is what you need to know now.
Dovish Interest Rate Hike
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- In the Morning Capsule, we shared with you that Wall Street was positioned for two potential outcomes from the FOMC meeting. Regarding one of the two potential options, we wrote:
A dovish hike of 25 basis points is being given an 80% probability by Wall Street. On the surface, the combination of dovish and raising interest rates seems to be an oxymoron.