Wheat futures (/ZW) are one of the top performing commodities this morning as heatwaves and moisture deficits hit the U.S. Northern Plains and Canadian Prairies sparking drought discussions.
In a 9-3 vote, the Fed policy committee chose patience in the face of elevated inflationary pressures, but the dissenting votes raise pressure for a rate hike in September.
Microsoft, Meta, and other AI-linked stocks' earnings may carry more weight than usual amid a chip-led tech sell-off. The Fed meeting also looms with inflation remaining stubborn.
Earnings from Visa, Boeing, KLA Corporation, Seagate, and more will be in focus today as investors continue their rotation away from AI darlings ahead of tomorrow's Fed meeting.
A Fed rate decision and a crowded earnings and economic calendar feature this week. Highlights include GDP and PCE data as well as earnings from Microsoft, Meta, Apple, and Amazon.
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Today's Options Market Update
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