Wall Street went up yesterday
Tuesday has been a positive day for the US stock market.
All three major US indexes reported profits.
The S&P 500 finished at +0.69%, the Nasdaq ended the trading session at +0.83% and the Dow Jones closed at +0.43%.
The investors' sentiment is Extreme Greed, as indicated in the graph below:
Sentiment indicator - Fear & Greed Index
The market sentiment is 81, in “Extreme Greed” mode, up from the previous days.
It is going up because of the FOMO (the fear of missing out) from investors.
US inflation is slowing down
Yesterday's reports from the Bureau of Labor Statistics showed that the Consumer Price index is slowing down reaching 4% year over year.
That is the lowest inflation rate since March 2021.
What to watch today
The Federal Reserve is going to meet today and will announce the next monetary policy action today at 7:00 PM GMT.
Jerome Powell, Fed chairman, will attend a press conference half an hour later to explain the decision.
Based on the latest inflation data, it is expected a no-rate hike for the first time in 15 months, but it is likely that next month, in July, there will be another interest rate increase.
The Producer Price Index (PPI) MoM for May 2023 will also be published today at 13:30 GMT, and it is forecasted to be -0,1%.
Financial markets could be volatile today.
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