| Advertisement
 With the Fed's latest interest-rate announcement expected Wednesday afternoon, here's what you need to know. Wednesday is a Fed day. The Federal Reserve will complete its two-day meeting and announce its latest policy decision at 2 p.m. ET. The market sees no chance of a rate hike and just a 2% chance of a rate cut. Traders will be parsing the statement for clues as to how the recent turmoil in markets may affect the path of presumed Fed rate hikes. Since this is an "off-cycle" meeting, there won't be an accompanying news conference or an update of economic projections. A late-day rally trimmed the losses in China. China's Shanghai Composite fell to a loss of more than 4% at the midpoint of Wednesday's session, touching its lowest level since November 2014. But a sudden, dramatic rebound, paced by large-cap stocks, lifted the index to a loss of just 0.5% by the close. According to Business Insider Australia, the late-day bid had the hallmarks of buying by China's so-called national team. Ray Dalio says the 75-year debt supercycle is ending. Dalio, the founder of Bridgewater Associates, says central banks will soon be unable to stimulate growth using cheap debt. In an op-ed article for the Financial Times, Dalio said debt supercycles typically lasted 50 to 75 years and that the end of today's cycle is near. Dalio pointed to 1935 as an example, saying this scenario was referred to as "pushing on a string." Russia is worried the US is after its natural resources. According to Nikolai Patrushev, the head of Russia's Security Council, the US wants to weaken Russia to "open access to the richest resources for the United States, which believes that Russia possesses them undeservingly." BP data obtained by Reuters shows Russia has the world's sixth-largest crude-oil holdings and second-largest natural-gas reserves. Apple's iPhone business may have finally peaked. Apple earned $3.28 a share on revenue of $75.9 billion. While earnings per share beat the Bloomberg consensus estimate of $3.23, revenue was shy of the $76.6 billion that was expected. The company sold 74.8 million iPhones during the holiday quarter, which was a slight improvement from the 74.5 number from a year ago but missed the 75 million that was anticipated. iPad sales tumbled 21% to 16.12 million, while Mac sales slid 3%. Apple's revenue guidance for the first three months of 2016 was $50 billion to $53 billion, which at the midpoint is an 11% year-over-year decline. Wall Street was looking for revenue guidance of $55.7 billion. Apple is down more than 4% in premarket trade. RBS issued a warning. The Royal Bank of Scotland warned it would take a $3.6 billion (£2.5 billion) hit as a result of legal bills, misselling, write-downs on its private bank, and changes to its pension system. The warning, however, didn't include anything related to a settlement with US authorities, so there might be another charge in the near future. "I am determined to put the issues of the past behind us and make sure RBS is a stronger, safer bank," CEO Ross McEwan said on the call. TSYS is buying TransFirst. The credit-card and payments processor is buying the privately owned TransFirst for $2.35 billion in cash. According to the Ledger-Enquirer, the takeover makes TSYS the sixth-largest US merchant acquirer in the US based on net revenue. Troy Woods, TSYS' chairman, president, and CEO, says the acquisition will "enhance its merchant business in order to remain competitive in the rapidly changing acquiring landscape." Stock markets around the globe are mixed. Japan's Nikkei (+2.7%) led a mixed session in Asia, and Germany's DAX (-0.8%) paces the declines in Europe. S&P 500 futures are down 13.50 points at 1,882.25. Earnings reporting picks up. Biogen, Boeing, EMC, Fiat Chrysler, Norfolk Southern, and United Technologies are among the names reporting ahead of the opening bell. Facebook, eBay, Las Vegas Sands, Qualcomm, and Texas Instruments highlight the names releasing their quarterly results after markets close. US economic data is light. New-home sales will be released at 10 a.m. ET, and crude-oil inventories will cross the wires at 10:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.00%. SEE ALSO: Full Fed preview | 
Tidak ada komentar:
Posting Komentar