Updated: Aug 30, 2022
Beautiful day on Wall Street today. Looks like Google and Microsoft results lifted the markets and Federal Reserve's decision to hike rate by 0.75% (instead of 1%) added fuel to that rally. I think there might be cause for optimism because Feds might have seen easing indication in current CPI data (just my conjecture) and might have chosen (unanimously) to stick with 0.75% rate hike. Federal Reserve chairman's comments also seem to suggest that 0.75% might get considered in next meeting but that will depend on economic data (they won't hesitate to increase rate by 1% if data warrants that move) and that eventually they might need to slow the rate increases. The good thing next FOMC meeting for rate hike isn't due until September 20 so perhaps there will be one less "urgent speculation" for the month of August. Tomorrow GDP data come out and more big tech earnings will continue to flow in.