Stocks initially rose overnight approaching what's expected to be another rate pause by the Fed. A 0.7% rise in February wholesale prices hurt sentiment and the rally faded.
A properly functioning Strait of Hormuz holds the keys to clarity around the growth, inflation, and market shock that has stemmed from the war in the Middle East.
The Fed is seen keeping rates paused at its meeting today, but investors await key economic and rate projections. PPI and crude are front and center early with inflation fears up.
The federal funds rate will remain 3.5% to 3.75%. The 'dot plot' still projects a single rate cut this year, and the Fed sees slightly stronger economic growth and inflation.
Stocks initially rose overnight approaching what's expected to be another rate pause by the Fed. A 0.7% rise in February wholesale prices hurt sentiment and the rally faded.
As the Fed prepares for a rate decision tomorrow, few expect a move. Instead, focus might stay on crude after its retreat gave stocks a lift Monday. Nvidia's event also continues.
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