Fed meeting, Apple/Google partnership, Nvidia - what's moving markets
Investing.com — This week's Federal Reserve meeting will be the major focus this week, although the Bank of Japan and the Bank of England also hold rate-setting meetings. Apple and Google are reportedly discussing an AI deal, while Nvidia hosts its latest developer conference.
It’s central bank week this week, with central banks in a number of major industrialized nations set to meet.
The main focus, however, will be on the Federal Reserve, which starts its two-day policy-setting meeting on Tuesday, with its announcement due on Wednesday.
The U.S. central bank is widely expected to keep rates unchanged, after Fed Chair Jerome Powell said earlier this month that officials want more evidence that inflation is slowing before they begin easing.
Hotter-than-expected U.S. producer and consumer price data have prompted traders to rein in bets on future cuts from the Fed, and they will be looking for more clues on the central bank's outlook for rate cuts, the resilience of the U.S. economy and the possibility of an inflationary rebound.
The Bank of Japan also meets on Tuesday, amid speculation that officials are set to decide whether to end eight years of negative interest rates in what would mark a landmark shift away from its huge stimulus program.
It’s Thursday that the Bank of England officials gather together, and is expected to stand pat on interest rates as it awaits greater clarity on wage growth, which remains stronger than in the U.S. or the euro zone.
Markets are currently expecting the BoE to start cutting borrowing costs from 5.25% — the highest since 2008 — in August, after both the Fed and the European Central Bank.
U.S. stock futures traded mostly higher Monday, ahead of the start of the Federal Reserve’s latest
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