NASDAQ Up Before FOMC
The Nasdaq is up. There was news of a slowdown in the increase in the labor cost inflation rate. The FOMC is expected to raise 25bp tonight. Economic indicators released so far have proven that inflation is clearly slowing. In June, the CPI index is expected to fall in the 2% range. Nevertheless, the Fed remains cautious because it does not try to stimulate inflation expectations. This is because the Fed's remarks that it will not raise interest rates in the future are likely to encourage consumer sentiment. So the Fed may not make dovish comments tonight. This is because the Fed also has a situation. The rate hike will be over once the FOMC ends in February. However, the stock index's growth rate in January is so steep that it may be a phase to rest. NASDAQ and DOW Industries Index graphs: Rebound on Slowing Labor Inflation...Nasdaq 1.67% ↑ With the results of the FOMC, the fighting spirit is revived. Due to the slowdown in the rise in employment costs and t...