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Coreweave (CRWV.O) signed a third-quarter contract worth approximately $40 million per megawatt annualized.ECB Governing Council member Rehn: It could be said that we were in a good position in terms of inflation, given the latest shocks, but the signals are not the same now.On September 17th, the Bank of England cancelled its plan to sell long-term government bonds as part of a major overhaul of its quantitative easing program. Under the plan, its £488 billion portfolio would be gradually liquidated by September 2034. According to the still-unfinalized proposal, the bank would hold £120 billion of UK government bonds maturing in 2049 or later, matching them with future paper money issuance. Another £222 billion of bonds maturing before 2035 would be gradually liquidated, and the remaining £146 billion maturing between 2035 and 2049 would be sold at a rate of £20 billion per year, possibly directly to the government through the Debt Management Office. In a letter to the Chancellor of the Exchequer, Bank of England Governor Bailey stated that the arrangement "maintains the independence of monetary policy" and will "maximize the effectiveness of funds by minimizing costs and risks during the programs implementation." All planned quantitative easing auctions will be suspended until April next year while consultations with the Debt Management Office (DMO) are underway regarding the terms of the sales. This postponement, by avoiding competition with government bond issuance, is expected to alleviate short-term pressure on government bond yields.On September 17, Liang Nan, Deputy Director of the Civil Aviation Administration of China, met with Yousef Hashim Aziz, Assistant Director General of the Civil Aviation Authority of the United Arab Emirates, in Beijing. The two sides exchanged in-depth views on further strengthening cooperation in various fields of civil aviation, promoting air connectivity between the two countries, and facilitating personnel and trade exchanges between China and the UAE.ECB Governing Council member Rehn: We can reduce red tape in the European banking and financial sector, but a strong capital buffer remains crucial.

S&P 500 Tests Resistance At 4040 Ahead Of Fed Rate Decision

Cory Russell

Dec 15, 2022 15:44

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Trading bets on a less hawkish Fed help the S&P 500 gain ground.


While traders get ready for today's publication of the Fed Interest Rate Decision, the S&P 500 is rising. The technologically oriented NASDAQ Composite is up 0.3%. After yesterday's CPI statistics, the market sentiment is still upbeat.


A decrease in the demand for safe-haven assets is highlighted by the U.S. dollar's recent trading around multi-month lows. If the Fed continues to take a hawkish position, though, the scenario may swiftly shift.


Currently, traders anticipate that the Fed will announce that, in order to safeguard the economy, interest rates would rise gradually starting in 2023. Recent inflation statistics showed that the Fed's rapid rate rises are having the desired effect, but it is unclear if the Fed would adjust its policies in response to the data.


Trading activity indicates that markets have begun to reflect a less hawkish Fed. As a result, the S&P 500 will be very sensitive to any remarks that may be seen as being hawkish.


The market's response, which will occur after the Fed publishes its announcement, should be noted by traders since it won't be the final one. During the press conference, which will begin 30 minutes after the release of the statement, the S&P 500 will also respond to Powell's remarks.

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