Markets are anticipating a near-zero chance that the Fed will announce any interest rate changes.S&P 500sank 2.04% and 1.49%, respectively. The Dow lost 5% in April, its worst monthly performance since September 2022. The S&P 500 shed about 4.2% for the month and the Nasdaq lost 4.4%. Despite ending a five-month winning streak, the S&P 500 is up more than 20% from its low in October. Followbetter-than-expected earnings and revenue for the quarter on Tuesday.
"With maybe one or two exceptions, policymakers pretty universally agree that the last few months of inflation data are too warm to justify action in the near term. But they're still hopeful that they will be in a position to cut rates later," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. The Fed is expected to make one piece of news, that they will reduce the level at which it is running down the bond holdings on its balance sheet.earnings and revenue.
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