Traders work on the trading floor of the New York Stock Exchange on July 22, 2024.
Timothy A. Clary | AFP | Getty Images
The Fed decides
The Federal Reserve is scheduled to conclude its two-day policy meeting on Wednesday.
The central bank is expected to keep interest rates steady, but focus will be on Chairman Powell and whether he provides any indication Cuts may be coming.
“Investors expect the Fed to cut interest rates in September, sending a strong signal,” said Bryce Doty, senior portfolio manager at Sit Investment Associates. “But it will be difficult for the Fed to be overly optimistic about future rate cuts.” Confidence, because it begs the question, ‘Why not cut rates now? ‘ So investors may be disappointed with the tone and attitude of the Fed meeting.
Wall Street is also wrapping up a tumultuous month of trading. The S&P 500 and Nasdaq are expected to end July down 0.4% and 3.3% respectively.
Dow and Russell 2000 The small-cap sock index is expected to end the month up more than 4% and 9%, respectively. This highlights the impact of market rotation on smaller and more cyclical stocks.
