Stock Futures Are Higher And Bond Yields Lower This Morning Ahead Of Federal Reserve Interest Rate Decision

U.S. stock futures are higher. Stock futures are higher, and bond yields are lower this morning, ahead of the Federal Reserve interest rate decision at 2 pm today, which will be followed by Chairman Powell’s press conference at 2:30 pm. Investors widely expect the Fed to keep rates unchanged, so the focus will quickly shift to the Summary of Economic Projections and Chairman Powell’s press conference. The Fed will likely attempt to temper the market’s expectations for rate cuts next year. Earlier this morning, the November Producer Price Index (PPI) showed that core producer prices fell to 2.0% year-over-year, below the expected 2.2% increase. Headline PPI was also cooler than expected at 0.9% year-over-year, compared to expectations of a 1.0% increase. Tomorrow’s schedule includes the release of weekly jobless claims and November retail sales data. Asian markets closed mixed ahead of the Fed meeting, and European markets are positive in afternoon trading. Gold and crude oil prices are rising, while the U.S. Dollar is showing modest weakness.

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