US markets are expected to open at higher levels today, a day ahead of the FED interest rates decision. The likelihood for raise rates tomorrow plummeted and expectations of market participants are for no change of monetary policy. This fact supports stocks and we may see further increases on the stock markets.
Great influence on the mood of the market will have the news at 15:30 on building permits and housing starts. Data below expectations is negative for the dollar and indexes, and better than expected data is positive. If the data is above expectations, it could lead to increased speculation about a possible increase in interest rates tomorrow and we can see a sharp impulse south of the indices after the initial eventual upward movement.
The drop in oil prices worried investors and not pulling the stock market down. The price is kept in a horizontal support level of $ 42.79 a barrel.
Today we expect reports from Lennar, FedEx, Adobe and KB Home.
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