On the SPOT™ blog (05/03/2023) [A..]
This morning, the economic data appears to show that economy is still quite robust in many areas. Private employment (numbers from ADP) seems to have gone up in April and appears to be much better than estimated. ISM reported an uptick in service sector business activity that also appears to be above estimates. These are good pieces of information to conjecture Feds' view of the economy as investors await the conclusion of FOMC meeting (main event of the day) later today that will give more insight based on the rate hike decision and commentary from the Federal Reserve Chair. At the moment (morning PST), all three major US indices are close to flat line. Let's see how the markets finish today after the main event of the day.
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