Fed officials, however, have indicated they expect the key policy rate to top out at 5 -5.25 percent this year.
The mood should stay bullish after officials said COVID deaths have dropped about 80 percent from the peak earlier this month, running counter to worries that the New Year travel rush would trigger a fresh wave of infections. Policy hawks are already pushing for more of the same in March. After all, inflation is well above the 2 percent target as preliminary January data out on Wednesday is likely to show.
Markets, whipped around by the differing opinions, will be looking for the ECB to speak with one voice. That, at least, is the hope.The three “A’s” — Apple, Amazon and Alphabet – three of the top four U.S. companies by market value – all report earnings on Thursday.Microsoft, the fourth of the U.S. megacaps, has already reported results. Its cloud business hit Wall Street targets, but it delivered a lackluster forecast that offered little cheer to the broader tech sector.
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