On Tuesday the CME Fed Watch tool was showing an anticipated 67.8% chance of a ¼ point rate hike. The minor percentages were on the greater ½ point hike. This shows the Feds commitment to raising rates is understood to be unchanged. The markets though, are expecting a slower pace.
After the FOMC Minutes, released yesterday, the change is down a little to 64.2%. That brings the minor percentage up to 35.8% sitting on the ½ point hike. The question is not will they or won't they as we get to the end of the month. The Question is will it be a ¼ or a ½.
Over 70% of stocks track with the S&P 500 Futures
Major Events:
Jan 5 ISM Services PMI
Jan 6 Employment Situation
Jan 12 CPI
Jan 13 Consumer Sentiment
Jan 18 PPI
Key Numbers Opens: Above or Below
4771.00 was the open of 2022
4094.50 was the open of Dec
3895.00 is the open of 2022
3871.00 is the open
3593.25 was the open of 4Q 2022
What's Hot and Not
Silver and Gold
HL, GLD, WPM, NEM, and SLV
Precious metals kicked off 2023 with a bang. Look for the above-mentioned stocks to guide your way into the new year. Let's see if they want to continue the march that began at the end of December. Today could be a corrective day.
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