Fed week is upon us. Despite another busy week for earnings and economic data releases, all eyes will be on the FOMC meeting during the upcoming week. With inflation remaining muted, soft manufacturing data, signs of a slowing services sector, and weak retail numbers, combined with slowing global growth and trade uncertainties, I think the Fed has enough data to cut rates for the third time this year. Traders are also expecting a rate cut, as the CME FedWatch Tool currently shows a 93.5% chance the Fed cuts. The high expectations for a cut also increases the possibility for a negative shock if the Fed disappoints in either their actions or comments.
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