Fed day # FED

FED’s stimulus program and kept rates unchanged. This was fully expected and the markets didn’t have that much of a reaction to the news.

 

The 2nd quarter GDP numbers blew away expectations with a rate of 4.0%. The 1st quarter contraction was revised to -2.1%.

 

The jobs report is due to be released this Friday morning before the open. Traders may hold trading until data becomes public. Investors like to invest at the beginning of the month.

 

The combination of these two events may end the selling pressure we’ve experienced lately.