Xpectations. Still, a majority of the committee were clearly in favor of the rate hike that the fed went ahead within december, and the majority of the committee are still expressing some confidence that inflation in the mediumterm is going to move back to 2 . But there is a sense that confidence in that is slipping a bit. That matches up with the feds forecast, the dots that we saw last month. The median for rate hike projections asked year is three, but their worst next year is three, but there were Six Committee members below that meeting. Ledave a more hawkish group by people like Loretta Mester in cleveland, and they are more concerned about a severe undershoot of unemployment in 2018, possibly leading to a bump in inflation. And here is another interesting quote i found in the minutes. Participants discussed several couldthat, if realized, result in a steeper path of increases in the target rate. They mentioned those risks include the economy expanding well beyond its maximum sus
Nasdaq had its ninth positive month out of the last ten. The worst performing sector, energy not a surprise given wtis performance, down about 6 thats the worst month for wti since march. As for the year so far, the nasdaq is leading the way. Its up more than 19 . The dow is higher by 11 the s p 500 is up by 10. 4 check the global markets. Things were kind of friendly in europe not much happening in the asian markets. Japan and the hang seng and shanghai european equities were more positive a half percentage point gain in average in most of the bourses look at the dollar got over 1. 20, back down to 1. 19 the tenyear, 2. 13 do you go straight do you have a gauntlet from your house to your car . Do you get in a garage do you know, it felt like fall was 55 degrees. 56r7b8g 55. Realfeel 50 i walked out in my sleeveless dress, grabbed a sweater came back out. Theres some leaves around. Rustling a bit. That went fast, didnt it. Way too fast. We still have this Weekend School starting we do.
Now before a number of congresswomen including Sheila Jackson lee walk up to this podium in the shadows of the chapel building capitol building. This is where a News Conference will begin at 12 15. They will be here to show support for their sorority at americansters university. We have been reporting on what happened there on monday since monday. In a nutshell, according to police, somebody put nooses and bananas around the campus. On the bananas were the letters aka, the abbreviation for Alpha Kappa Alpha sorority. The congresswomen will show their support for the Sorority Sisters at the university. They will have a News Conference here and denounce the actions that happened on monday. When it comes to the search for whoever pulled off that crime, that is still under investigation. They are considering what American University campus a hate crime. This News Conference is scheduled to begin in about 15 minutes or so. We will be here for it all. Expect more information on what happened
Down. But with this market, Collision Avoidance is king. And when we collide, we bounce back with alacrity, including today with the dow beginning 60 points, s p advancing, nasdaq climbing 0. 88 . A lot of action there. Let me give you some concrete examples of what could have happened but didnt. Lets comb the accidents that never occurred. First we need to parse some of the biggest fears being peddled by pessimistic prognosticators, perhaps designed to sow panic although the panic failed to materialize. For example, how often did we hear in late december that if the dow didnt crack through 20,000, we were doomed for a huge selloff. Sell, sell, sell. I cant believe how loud that inane chatter was. We cracked through the 20,000 ceiling or we get thrown back into some sort of on liblivion. This or this. Here we are. We didnt take it out. We got thrown back from dow 20,000, and the result, dow gets right off the canvas, makes another challenge. The prognostication here, just plain wrong.
European equities are trading. Just under 30 minutes left in the trading day. Luxembourg is up and iceland is down. Everyone else up driven by corporate earnings with two main currencies rising against the dollar. The others are declining. Big moves in the periphery bond ,arket in france and italy switzerland, netherlands, all those yields rising. The grease yield is falling. Ave seen a failure to strike deal over a plan. Busy day for corporate earnings. The Second Biggest Bank reported a 20 drop in quarterly profits. Setting aside provisions to court with a european ruling on adjustable home loans and announced plans to switch and all Cash Dividend next year. Revenue from lending was better than expected. Shares down by 1. 9 today. Euro area manufacturing expanded at the strongest pace in nearly six years. Is euro areae manufacturing. Germany is the other line. Input costs,nies high demand driving price growth to the fastest gain in five and a half years. We have had strong days with