Wednesday, December 13–Jim Wyckoff’s Morning Markets Report
World stock markets were steady to mixed in subdued trading overnight, ahead of the U.S. Federal Reserve’s FOMC meeting conclusion this afternoon. U.S. stock indexes are pointed toward firmer openings when the New York day session begins.
It’s widely expected the Fed will raise U.S. interest rates by 0.25% this afternoon. Fed chair Janet Yellen will also hold what will likely be her final press conference after the FOMC statement. The marketplace will closely examine the Fed’s economic projections for next year, in trying to anticipate the central bank’s monetary policy moves in 2018.
The European Central Bank and Bank of England monetary policy meetings also take place later this week.