- U.S. stocks flitted between gains and losses on Monday, with losses in Boeing and Facebook limiting gains while investors waited for the Federal Reserve’s policy meeting later this week for further clues on the pace of interest rate hikes.
Investors will be looking for whether the Fed’s dot plot, which shows individual committee members’ rate views for the coming three years, aligns with the patient approach. Also in focus are details on whether the central bank will continue to shed bond holdings from its balance sheet. Concerns over the safety of Boeing’s marquee MAX fleet led to groundings worldwide last week and shaved off more than 10 percent from the market value of the world’s largest planemaker.
Prime Minister Theresa May’s Brexit plans were thrown into turmoil on Monday when the speaker of parliament said she could not put her divorce deal to a new vote unless it was re-presented in a substantially different form. A slew of downbeat economic data last week validated the Fed’s decision to remain less aggressive on raising rates.
Source: News Formal (newsformal.com)
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