Today's Fed meeting appears likely to bring a 25-basis point rate cut, the first since December. Rate and economic projections are also awaited, along with Powell's remarks.
Stocks were initially higher, helped by strong retail sales data, but have turned modestly lower around midday as the Fed’s 2-day FOMC meeting gets underway.
Greater mega-cap stock exposure carries significant upside risks, but concentration can also work against investors—helping make the case for diversification in portfolios.
All three major market indexes hit record highs on Thursday despite a sticky CPI report. Investors are now focused on the Fed cuts next week, and today’s consumer sentiment data.
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