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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Get ready for the Fed
The Federal Reserve is in the spotlight again. It will announce its interest rate decision at 2 p.m. ET, followed by a news conference with Fed Chair Janet Yellen at 2.30 pm.
2. Stock market movers -- Adobe, Coty
Shares inAdobe(ADBE)are dipping premarket based on concerns about the company's profitability in the coming months.
3. Earnings:
FedEx(FDX)is reporting ahead of the open.
Oracle(ORCL,Tech30)andPier 1 Imports(PIR)are reporting after the close.
4. International markets overview:
European marketsare relatively steady in early trading.Asian marketsmostly closed in positive territory.
Oil prices are rising again, up by about 1% to trade around $60.70 per barrel.
In currency markets, the British pound and Swiss franc are moving higher.
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What is it? It's the broadest measure of economic activity and the primary gauge of the economy's health.
When? June 17th at 6:45pm Eastern Time.
Trading Tip:If the actual number is higher than the forecast, you can expect the NZD to rise.
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What is it? This report includes the FOMC's projection for inflation and economic growth over the next 2 years and, more importantly, a breakdown of individual FOMC member's interest rate forecasts. Source first released in Apr 2011
When? June 17th at 2:00pm Eastern Time.
Trading Tip: This announcement can greatly affect the USD so make sure to follow it!
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What is it? It's a leading indicator of consumer spending - retailers generally order more goods from wholesalers when they expect consumer sales to increase.
When? June 17th at 8:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the CAD to rise.
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What is it? The BOE's MPC meeting minutes contain the interest rate vote for each MPC member during the most recent meeting. The breakdown of votes provides insight into which members are changing their stance on interest rates and how close the committee is to enacting a rate change in the future.
When? June 17th at 4:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.
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What is it? It's the first indication of the employment situation, released a month earlier than the Unemployment Rate. Source changed series calculation formula as of Jun 2015. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.
When? June 17th June 4:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.
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What is it? Data represents the 3-month moving average compared to the same period a year earlier. A figure that excludes bonuses is also released, but not included for lack of significance. Source changed series calculation formula as of Jan 2010.
It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer
When? June 17th at 4:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.
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Wall Street bets on 75% chance of Greek default as Greece needs to find 1.54 billion euros ($1.7 billion) to pay the International Monetary Fund by June 30 to avoid default. To do that, it needs the last tranche of its 240 billion euro ($262 billion) bailout.
U.S. stocks were up on Tuesday, after two straight sessions of losses, as deal activity picked up in the consumer and healthcare sectors and investors waited for the outcome of a two-day Federal Reserve meeting.
USD is rising while EUR is dropping.
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