Today ,The Fed statement and Results The latest assessment of the US economy from the Federal Reserve should be the centrepiece of the day. Whether it is a fresh assessment is another question. The statement is due at 2pm (New York time) after officials on the Fed’s Open Market Committee finish their two-day meeting. A fuller analysis on what to watch for is coming shortly on fastFT. With a firm consensus that Fed chairman Ben Bernanke won’t weaken the bank’s stimulus plan, equities are once again up. Futures suggest the S&P 500, which has been setting fresh records, will open modestly higher. Before the Fed statement, there will be news on the state of the US labour market in the form of a survey from ADP. With the government’s report delayed until next week, the increased focus the survey has received of late will intensify. It is due at 8:15am, and economists forecast job growth of 150,000 compared with 166,000 in September. There are also inflation figures for September due. And in the busiest week for third-quarter earnings, General Motors is likely to be the most interesting before the stock market opens. Facebook and Starbucks come after the market closes.
Posted on: Wed, 30 Oct 2013 15:51:20 +0000
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