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Stock markets fell as investors prepared for the Fed’s June policy meeting.
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The FOMC meeting concludes on Wednesday and will help determine the direction of interest rates.
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The May CPI is also due to be released on Wednesday, which will provide further information on interest rates.
U.S. stocks fell on Tuesday as traders prepared for the Federal Reserve’s June meeting.
The two-day event kicks off on Tuesday and ends with a policy announcement and comments from Chairman Jerome Powell on Wednesday afternoon. Futures market data suggests investors are confident rates will stay on hold.
Inflation data due on Wednesday should also help gauge interest rate movements over the coming months: a weaker-than-expected reading in May’s consumer price index could increase the chances of a rate cut in September.
Currently, the market is divided on whether one or two rate cuts this year are still possible, especially following last week’s strong employment data.
Apple shares recouped losses in Monday trading, rising 2% a day after the company unveiled its artificial intelligence strategy, sending Wall Street into a frenzy and leading analysts to predict a major upgrade cycle as consumers seek the latest AI products.
U.S. stock indexes as of the 9:30 a.m. start of trading on Tuesday were as follows:
Here’s something else that happened today:
Commodities, Bonds and Cryptocurrencies:
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West Texas Intermediate crude oil fell 0.06% to $77.53 a barrel, while the international benchmark Brent crude rose 0.05% to $81.83 a barrel.
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Gold rose 0.19% to $2,315.45 per ounce.
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The yield on the 10-year Treasury note fell 1 basis point to 4.453%.
Bitcoin fell 3.4% to $66,922.
Read the original article on Business Insider
