Post by UKIPA Holdings, LLC on Mar 18, 2015 19:17:36 GMT 4
U.S. Index Futures Fall Amid Oil Drop Before Fed Policy Decision
U.S. stock-index futures fell before the Federal Reserve’s decision on monetary policy as oil prices slide for a seventh consecutive day. E-Mini futures on the Standard & Poor’s 500 Index expiring in June slipped 0.4 percent to 2,058.50 at 7:47 a.m. in New York. The underlying equity gauge hasn’t posted a two-day gain in a month. Dow Jones Industrial Average E-Mini futures retreated 78 points, or 0.4 percent, to 17,777. The S&P 500 has lost 2 percent from its March 2 record as concern mounts that the surging dollar will hurt corporate earnings. Fed officials are assessing the economy and debating the timing of the first interest-rate increase since 2006 at a two-day meeting ending today. The Fed may remove wording describing its stance to raising rates as “patient.” Chair Janet Yellen speaks to the press from 2:30 p.m. in Washington. “We think it’s a bit premature to call the rise in rates so soon,” said Patrick Spencer, equities vice-chairman at Robert W. Baird & Co. in London. “The higher dollar has basically already given you some of that rate-increase effect. Yellen will look at the strength of the dollar, the weakness of the global economy, drop the word ‘patience’ from her guidance, but give comfort that she won’t raise rates until it’s a requirement.” Speculation that a strengthening economy is pushing the central bank closer to a rate hike has weighed on U.S. equities, making them among the worst-performing developed markets this year. Fed stimulus has helped spur a six-year bull market that made the S&P 500 more than triple since a low in in 2009. Investors are weighing whether weaker than-expected U.S. economic data could temper the outlook for higher rates. The Bloomberg ECO U.S. Surprise Index, which measures whether data beat or missed forecasts, has dropped to a six-year low.
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www.bloomberg.com/news/articles/2015-03-18/u-s-index-futures-are-little-changed-before-fed-policy-decision
U.S. stock-index futures fell before the Federal Reserve’s decision on monetary policy as oil prices slide for a seventh consecutive day. E-Mini futures on the Standard & Poor’s 500 Index expiring in June slipped 0.4 percent to 2,058.50 at 7:47 a.m. in New York. The underlying equity gauge hasn’t posted a two-day gain in a month. Dow Jones Industrial Average E-Mini futures retreated 78 points, or 0.4 percent, to 17,777. The S&P 500 has lost 2 percent from its March 2 record as concern mounts that the surging dollar will hurt corporate earnings. Fed officials are assessing the economy and debating the timing of the first interest-rate increase since 2006 at a two-day meeting ending today. The Fed may remove wording describing its stance to raising rates as “patient.” Chair Janet Yellen speaks to the press from 2:30 p.m. in Washington. “We think it’s a bit premature to call the rise in rates so soon,” said Patrick Spencer, equities vice-chairman at Robert W. Baird & Co. in London. “The higher dollar has basically already given you some of that rate-increase effect. Yellen will look at the strength of the dollar, the weakness of the global economy, drop the word ‘patience’ from her guidance, but give comfort that she won’t raise rates until it’s a requirement.” Speculation that a strengthening economy is pushing the central bank closer to a rate hike has weighed on U.S. equities, making them among the worst-performing developed markets this year. Fed stimulus has helped spur a six-year bull market that made the S&P 500 more than triple since a low in in 2009. Investors are weighing whether weaker than-expected U.S. economic data could temper the outlook for higher rates. The Bloomberg ECO U.S. Surprise Index, which measures whether data beat or missed forecasts, has dropped to a six-year low.
Read full article...
www.bloomberg.com/news/articles/2015-03-18/u-s-index-futures-are-little-changed-before-fed-policy-decision