It’s here — the Federal Open Market Committee meets on Tuesday for a two-day meeting that is expected to end with lower interest rates and Federal Reserve Chairman Jerome Powell stating for the umpteenth time from the podium that no, President Donald Trump is not directing interest rates.
Growth stocks — because they are by definition long-duration assets — and yield stocks should benefit, the strategists say. The buzz Beyond Meat BYND, -11.10% was the talk of markets after reporting better than expected sales, and then announcing a big stock sale of 3.25 million shares Whether you think the valuation is insane or not, good luck shorting it — as of Monday, shares were commanding a borrow fee of 135.9%, rising to 150% for new borrows, according to analytics firm S3 Partners.
Data released by the Commerce Department showed the weakest rise in consumer spending in four months in June, alongside scant inflation of just 1.4% over 12 months, well below the Fed’s 2% target.
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