The VIX index rose to the highest level since early December
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the Kumo…
The Federal Reserve will conclude its two-day meeting on monetary policy today.
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is trading slightly above the Kumo. An upward wave would lead the market to exceed the Tenkan sen level. Further bullish momentum will lead the exchange rate higher.
US Market View
U.S. equities futures were slightly higher during morning trading Wednesday after the major averages pulled back from record highs, snapping a five-day winning streak.
The Standard & Poor’s futures rose some 0.1% and Nasdaq 100 futures edged up 0.3%. Futures contracts for the Dow Jones Industrial Average were flat.
Investors digested a number of quarterly results from mega cap tech names. Google-parent Alphabet climbed more than 4% in premarket trading after the tech giant posted quarterly results, registering a 69% increase in advertising revenue.
Boeing shares also climbed 3.5% in pre - trading after the firm posted its first profit since the third quarter of 2019 thanks to a rebound in aircraft deliveries.
Apple shares dipped some 1.3% even after the company beat top- and bottom-line estimates and said iPhone sales surged 50% YoY. Microsoft rose 1.2% after reporting an earnings beat despite a dip in revenue from its Windows sales.
The Federal Reserve will conclude its two-day meeting on monetary policy today. The Federal Open Market Committee is set to release a statement at 2 p.m. ET followed by a press conference with Chairman Jerome Powell.
The major averages are still higher than July 1st. The S&P is up 2.4% for July, while the Nasdaq Composite and Dow have gained 1.1% and 1.6%, respectively.
Michael Eliades
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