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Wall Street diverged at the beginning of the week

2019-03-18 02:38 pm | Resource: News | No Views : 101



 Markets in the US began mixed session on Monday mixed before the decision to raise interest rates this week from the Federal Reserve. While policymakers are widely expected to leave interest rates unchanged, Federal Reserve Chairman Jerome Powell could give more details on the central bank's balance sheet.

At the same time, Boeing is still under pressure after it has been reported that the Department of Transportation has verified the approval of the Federal Aviation Administration (FAA) on the 737 aircraft manufactured by the troubled aircraft manufacturer.

The US housing market index remains unchanged in March

On the data front, the National Association of Home Builders (NAHB) said in a statement released on Monday that the US housing market index reached 62 in March, unchanged from the previous month. Construction confidence was steady in the third month of 2019 as construction companies reported market stability after the slowdown in late 2018.

On the other hand, one of the main concerns of builders remained affordability, in addition to the shortage of skilled workers, the lack of buildable quantities, and the severe restrictions on zoning, where builders aim to build new homes for sale at affordable prices.

"In a healthy sign for the housing market, more construction companies say lower price points are selling well," said Robert Dietz, chief economist at NAHB. "This is reflected in the government's new home sales report issued last week." "Increasing the inventory of affordable homes - in markets where government policies support such construction - will enable more buyers to enter the market," he said.

US market prices are 28.7% as an opportunity to cut interest rates in 2019

The FedWatch instrument, calculated by the CME, showed that markets do not rely on the US Federal Reserve for any increase in borrowing costs this year. Moreover, there are even bets on interest rate cuts on December 11, the latest update of monetary policy in the table. Fed futures prices set a 1.3% probability that the benchmark target range on March 20 would be reduced by 0.25 percentage points, a record move, to between 2% and 2.25%, while the remaining 98.7% was unchanged from 9 : 44 am Eastern Time.

Looking at the end of the year, there is a 28.7% chance of falling below the current level, with 3.5% pointing to two steps below and even a 0.3% margin to cut three interest rates. A month ago, the odds were 5.9% for the rise, compared to 10.9% for the decline, mostly by 25 basis points each.

The FOMC will hold a two-day meeting tomorrow. The central bank is widely seen as reducing expectations of higher interest rates, which may benefit stocks, but it may also reduce estimates of economic growth.

US Stocks Open
 
  • The Dow Jones Industrial Average was 0.11% in the red zone shortly after the opening bell as Boeing dropped more than 2%.
  • Meanwhile, the Nasdaq 100 rose 0.12% as Netflix advanced gains, rising 1.91%.
  • The S & P 500 rose 0.15% in the first minutes of trading; Edwards Medical Devices Lifesciences rose nearly 8%.

The euro jumped 0.18% against the dollar at 9:35 am Eastern time, buying 1.13465.


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