FOMC day. Just two days after the election, Fed will weigh in when they their interest-rate decision at 2 PM ET. The expectations are for a 25 basis point cut to 4.5% to 4.75% target as the Fed continues into recalibration. What will be of more interest to the market is Fed chair Powell weighs in on a new administration and their pro-growth but potentially inflationary policies. It is unlikely but I am sure that reporters will try to get some info during the press conference. Yesterday stocks the soared with the Dow industrial average rising 3.57%, its largest increase since 3.7% on November 10, 2023. The S&P index index rose to 2.53%, it's largest increase since 3.1% on November 30, 2022.
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