Hello Traders everywhere. The Federal Reserve and Fed Chair Janet Yellen are stuck between a stronger global economy and a lull in U.S. inflation; the Fed is expected to announce whether it will raise interest rates for a third time this year or back off until prices rise to a level that they are comfortable with.
The Fed also is likely to announce a scheduled reduction of its approximately $4.2 trillion in holdings of bonds and mortgage-backed securities, most of it accumulated in response to the 2007-2009 financial crisis and recession.
Crude Oil is on the rise and trading above the $50 level today. The significant move today comes on the hell of news that gasoline stockpiles are at a new 22-month low and exports of crude and fuels surged.
Key levels to watch this week:
S&P 500 (CME:SP500): 2,428.20
Dow (INDEX:DJI): 21,673.58
NASDAQ (NASDAQ:COMP): 6,228.73
Gold (NYMEX:GC.Z17.E): 1,324.00
Crude Oil (NYMEX:CL.X17.E): 49.68
U.S. Dollar (NYBOT:DX.Z17.E): 93.06