- Fed set to stick to ultra-loose policy stance; Facebook, Apple Tesla earnings also in focus
- GameStop shares soar after Elon Musk tweet
- AstraZeneca CEO explains vaccine production ‘glitches’
- Pandemic could delay Hinkley Point by six months
- Mid-morning summary
Josh Mahoney, senior market analyst at the online trading platform IG, reckons the Dow Jones will open 89 points lower, at 30,848. And what can we expect from the Fed tonight?
The Federal Reserve come back into focus today, with traders increasingly looking towards the US for some form of stimulus boost in the coming weeks. Unfortunately, with Biden expected to drive forth his $1.9 trillion stimulus coronavirus support package, we are unlikely to see the Fed turn up the dials at today’s meeting.
A new year brings new voting members for the Fed, with four regional Fed members rotating into a position where their opinion can be better reflected. Key to that voting member rotation is the addition of Atlanta Fed President Raphael Bostic who has already speculated that the Fed might be able to ‘recalibrate’ in ‘fairly short order’ once the recovery gets going.
The sell-off on European stock markets has gathered pace, ahead of the US Federal Reserve policy decision. In London, mining shares are leading the losers, amid concerns that extended coronavirus lockdowns will hit demand for commodities.
