Wall Street next week: Investors eagerly anticipate Federal Reserve’s interest rate verdict
On March 20, the Federal Open Market Committee (FOMC) will announce its interest rate decision. This will be followed by Press conference by Fed Chair Jerome Powell.
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The US Federal Reserve’s monetary policy meeting will be the center of attention on Wall Street this coming week.
It is generally anticipated that Fed policymakers would maintain the current interest rate following the release of inflation statistics last week, which revealed that US consumer prices increased in February.
On March 20, the Federal Open Market Committee (FOMC) will announce its interest rate decision. This will be followed by Press conference by Fed Chair Jerome Powell.
Profits fetched
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The firms StoneCo, Comtech, Science Applications, Tencent Music, Caleres, Citi Trends, Core & Main, Micron Technology, Signet Jewelers, General Mills, Five Below, Nike, FedEx, Accenture, Lululemon, and Darden Restaurants are scheduled to release their quarterly earnings next week.
Previous week
US stocks dropped on Friday as traders assessed the outlook for interest rates in advance of the Fed meeting. To reach 38,714.77, the Dow Jones Industrial Average dropped 190.89 points, or 0.49 percent.
Late on Thursday, the yield on the 10-year Treasury increased from 4.29 percent to 4.31 percent. The yield on the 2-year Treasury increased from 4.69% to 4.73%. From 148.31 Japanese yen to 149.04 yen, the US dollar increased. The euro increased to $1.
On Friday, the US benchmark for crude oil for April delivery dropped 22 cents to $81.04 a barrel. The price of a barrel of Brent crude for May delivery dropped 8 cents to $85.34.
The price of gold for delivery in April fell $6 to $2,161.50 an ounce. At $25.38 per ounce, silver for May delivery increased by 32 cents. Asia markets declined as European stocks were mixed in foreign exchanges.
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