Today’s Market – The Waiting Game

Posted by Seeking Alpha

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Summary

Stocks were frozen in place in premarket trade.

The U.S. dollar was likewise little changed.

We are playing a waiting game today until the 2:00 PM release of the Fed meeting minutes.

The Federal Open Market Committee (FOMC) meeting minutes will be published at 2:00 PM EDT. If the minutes show a Fed worried about the outlook for inflation and/or talking about possibly raising the trajectory of monetary policy tightening, well then stocks should take a hit. I think this is more likely than not given what we know already, though we may not learn of it until we see the Fed’s updated economic projections in mid-June.

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