Investors are laser-focused on Fed Chair Janet Yellen's press conference this afternoon capping the Federal Open Market Committee's two-day monthly meeting. Expectations continue to vacillate between a September and December interest rate hike. We doubt very much anything new will come out of the meeting, and we expect the Fed to continue to stay in waiting mode that is data dependent for further action.
In the U.S., equity futures are trading slightly higher this morning
Overseas, bonds in Spain, Italy and Portugal continue to sell off, while the German Bund is seeing a flight to safety and its yield is coming down.
In M&A news, it has been announced that private equity shops Blackstone (BX) and Carlyle (CG) will team up for a $10 billion buyout of NCR (NCR).
Our congratulations to Steph Curry -- a bright star for the Growth Seeker portfolio's Under Armour (UA) holding -- and the Golden State Warriors on winning the NBA championship!
Some notable earnings calls today include FedEx (FDX), Actuant (ATU), Oracle (ORCL), Jabil Circuit (JBL) and Pier 1 Imports (PIR).
At 10:30 a.m. ET we will get the Energy Department's energy inventories report, and all eyes, of course, are on the 2:30 p.m. news conference by Janet Yellen.