{"id":46387,"date":"2018-05-02T12:07:06","date_gmt":"2018-05-02T16:07:06","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=46387"},"modified":"2018-05-02T12:07:06","modified_gmt":"2018-05-02T16:07:06","slug":"stocks-fall-ahead-fed-announcement","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2018\/05\/stocks-fall-ahead-fed-announcement\/","title":{"rendered":"Stocks Fall Ahead Of Fed Announcement"},"content":{"rendered":"

Hello traders everywhere. Overall the U.S. stock market is trading lower on the day after a slow opening and trading lower on the week. The reason for today's soft open is the Fed, which is set to release its latest monetary policy decision at 2 p.m. ET. Market expectations for a May rate hike are just 5.7%, according to the CME Group's FedWatch tool.<\/p>\n

The NASDAQ is the only index in the green, but that is solely due to Apple. Apple is a cash generating machine rising +4% after it posted resilient iPhone sales in the face of waning global demand and promised $100 billion in additional stock buybacks. But the real surprise was the service revenue with total paid subscriptions reaching 270 million, that's up by 100 million from a year ago. <\/p>\n

\"Fed<\/a> <\/p>\n

We finally got the green monthly Trade Triangle on the U.S. dollar as it passed through the $92 level hitting new 3 month highs and trading up a little over 1% on the week. The U.S. two-year Treasury yields hit a 9-1\/2-year high after data showed U.S. private-sector payrolls for April came roughly in line with market forecasts, cementing expectations for a rate increase in June.<\/p>\n

Bitcoin is up .2% on the day but is still stuck in a tight trading range. For the last 12 days, it's been trapped between the 50-day and 200-day moving averages. It needs to make a move above the 200-day MA, which currently stands at the 9,956.44 level, to break out to the upside. <\/p>\n

Key Levels To Watch This Week:<\/h2>\n

S&P 500 (CME:SP500)<\/a><\/strong>: 2,610.79
\nDow (INDEX:DJI)<\/a><\/strong>: 24,858.97
\nNASDAQ (NASDAQ:COMP)<\/a><\/strong>: 6,926.97
\nGold (NYMEX:GC.M18.E)<\/a><\/strong>: 1,325.90
\nCrude Oil (NYMEX:CL.M18.E)<\/a><\/strong>: 69.34
\nU.S. Dollar (NYBOT:DX.M18.E)<\/a><\/strong>: 88.94
\nBitcoin (CME:BRTI)<\/a><\/strong>: 6,616.14<\/p>\n

Every Success,
\nJeremy Lutz
\nINO.com <\/a>and MarketClub.com <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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