The Dow Jones today added 38 points in pre-market trading as investors awaited interest-rate decisions from the U.S. Federal Reserve and the European Central Bank. Today, the Fed is expected to raise interest rates for the second time in 2018. On Thursday, the ECB will announce whether it will continue to promote financial liquidity in European markets through quantitative easing.
Quantitative easing has remained a controversial policy since both American and European central banks introduced it following the 2008 financial crisis. However, Money Morning Liquidity Specialist Lee Adler thinks this controversy misses the big picture of quantitative easing – and the consequences…
Here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 25,320.73 -1.58 -0.01% S&P 500 2,786.85 4.85 0.17% Nasdaq 7,703.79 43.87 0.57%
Now here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.
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Money Morning Insight of the Day
Before the June FOMC meeting, silver prices are hovering at very attractive price levels. The price of silver is up 3.4% in the past week, while gold has trended sideways. With interest rates likely heading higher on Wednesday, it’s going to be a very good time for silver hounds to buy on the dip and deliver incredible profits in the months ahead. Learn more right here.
The Top Stock Market Stories for Wednesday
The Fed Open Market Committee ends its meeting on monetary policy today. Federal Reserve Chair Jerome Powell is likely to announce a hike of 0.25% to the benchmark rate of 2%. Markets will be looking for clues