The Federal Reserve increased short-term interest rates on
Wednesday, as expected, raising the fed funds target range by 25 basis points
Stocks were up modestly ahead of the release of the Fed's
decision, which crossed the wires at 2:00 PM ET, and extended gains after the
central bank removed the word 'accomodative' from its policy statement.
However, that initial move was reversed, and then some, following a
post-decision press conference from Fed Chairman Jerome Powell, during which he
said the language change didn't signal a change in the Fed's path for rate
Today after the close the following companies were scheduled to report earnings: CMTL, BBBY, FUL.
Futures are mixed after hours: S&P 500 futures are -1.00 from its fair value of 2,912 and Nasdaq-100 futures are +0.50 from fair value of 7,590.
Tomorrow morning, economic reports scheduled to be released include: Adv. International Trade in Goods (08:30am ET, Consensus -$71.0B), Adv. Retail Inventories (08:30am ET, Consensus NA), Adv. Wholesale Inventories (08:30am ET, Consensus NA), Durable Orders (08:30am ET, Consensus 1.8%), Durable Goods --ex transportation (08:30am ET, Consensus 0.4%), GDP - Third Estimate (08:30am ET, Consensus 4.3%), GDP Deflator - Third Estimate (08:30am ET, Consensus 3.0%), Initial Claims (08:30am ET, Consensus 209K), Continuing Claims (08:30am ET, Consensus NA).
Tomorrow before the open the following companies are scheduled to report earnings: CMD, CCL, CAG, RAD, ACN, MKC, ANGO, SCHL.
Looking at energy, the EIA released its weekly petroleum data for the week ended Sept. 21:
- Crude oil inventories had a build of 1.852 million barrels
- Gasoline Inventories has a build of 1.53 million barrels
- Distillate Inventories has a draw of 2.24 million barrels