FED: The next interest rate hike will depend on the latest economic data
- 9 March 2023
- Posted by: Federica Montella
- Categories: eToro CopyTrader, Investing
Wall Street went slightly up on Wednesday
Yesterday, among the three major US indexes, only the Dow Jones closed in the negative.
The S&P 500 finished at +0.14%, the Nasdaq ended the trading session at +0.40% and the Dow Jones closed at -0.18%.
The investors’ sentiment remains neutral, as indicated in the graph below:
Sentiment indicator – Fear & Greed Index
The market sentiment is 45, in “Neutral” mode, however, it is approaching the Fear mode.
No decision on the interest rates yet
Federal Reserve chairman, Jerome Powell, yesterday completed his two days of testimony regarding the monetary policy.
Mr Powell said that at the moment no decision has been made on interest rates and he will keep different options open until the publication of the latest economic data, especially the ones about the labour market, which is particularly strong.
The next Fed meeting will be on 22 March.
What to watch today
The US initial jobless claims (for the week of 4 March) are going to be released today at 13:30 GMT.
The data is expected to be 195,000 up from the previous week of 190,000.
Markets will continue to be volatile today, due to these events.
Portfolio update
I am currently neutral and cautious about the stock market.
I hold long and short stock positions and aim to profit regardless of the market direction.
If you are already copying my portfolio, please keep the copy open.
If you are thinking of copying me, now could be the right time, if you can invest for the long term (years).
Remember to copy the open trades to optimize the copy.
Remember to set the stop loss on the copy at the minimum level, so you don’t get stopped if there is a correction.
Thank you, everyone. Have a nice day!
Steps to follow to copy my portfolio automatically:
1. Create an eToro account here: https://federicamontella.com/go/etoro/
2. Verify your account and make a deposit of at least 200 USD (you can deposit in any currency, like GBP and EUR)
3. Go to my profile page: https://federicamontella.com/go/etoro-passionforprofit/
4. Start the copy (copy open trades and set the lowest stop loss possible, to allow some movement)
5. Enjoy, it’s all automatic. You will make passive income 24/7
Let me know if you have any questions.
Federica Montella
eToro Popular Investor
Follow me on social media
