This morning, the S&P 500 Index e-mini futures (ES-U2) are trading higher by 2.00 points to 1382.50 per contract. The small move higher in the market comes as the FOMC meeting begins today. This is a two day meeting by the Federal Reserve, the meeting will conclude tomorrow afternoon. Almost every trader and investor will be waiting to see if the central bank implements another quantitative easing program. This tells us that today's trading session could be on the quiet side as everyone waits to see what the Federal Reserve will do. It's a bankers world, we are just living in it.
Should the Federal Reserve Bank decide to implement another stimulus program tomorrow commodities should be the first to react by trading higher. Traders should watch equities such as Deutsche Bank AG DB Gold Double Long ETN (NYSEARCA:DGP), ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), ProShares Ultra DJ-UBS Crude Oil (NYSEARCA:UCO), and United States Gasoline Fund, LP (NYSEARCA:UGA) to trade higher on any QE-3 announcement. These same equities will likely come under selling pressure if the central bank does not act.
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Quiet Start For Markets Ahead Of The Fed
Published 08/01/2012, 12:36 AM
Updated 07/09/2023, 06:31 AM
Quiet Start For Markets Ahead Of The Fed
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