Up, up and away! | MarketTalk: What’s up today? | Swissquote

Show notes

The Federal Reserve (Fed) left interest rates unchanged as planned, but Chair Jerome Powell repeated that the rate cuts will begin ‘sometime this year’ and that it would be appropriate to slow the pace of QT ‘fairly soon’. The decision was such a relief for the market; US bonds rallied, the dollar fell and the S&P500 traded at fresh record.
In Europe, mood was much less cheery, as the 11% plunge of Kering, the owner of Gucci, raised questions regarding the health of the rest of the European luxury stocks. European Central Bank (ECB) head Christine Lagarde didn’t enchant Europeans when she said that the ECB can’t commit to rate cuts beyond a first cut in June.
Today, it’s the Bank of England (BoE) and Swiss National Bank’s (SNB)turn to announce decision. Both are expected to stay pat, investors will hunt for hint regarding the timing of the first rate cut.
Even more exciting, Reddit will start trading on NYSE today after having raised $748 million priced at $34 per share – which is the top marketed range. The weather conditions are ideal for a first day facing the public – especially for speculative trades.
Listen to find out more!