Meanwhile, the market believes that at the next meeting of the Federal Open Market Committee (FOMC) on June 14, 2023 the representatives of the Fed may raise the base interest rate by another 25 basis points. It's all caused by problems in the global economy and the prospect of default on U.S. government debt.
This is bad news, because market participants earlier expected the situation with the rate to normalize. It was supposed to remain the same after the first summer meeting, and then go to the decline.
Meanwhile, the market believes that at the next meeting of the Federal Open Market Committee (FOMC) on June 14, 2023 the representatives of the Fed may raise the base interest rate by another 25 basis points. It's all caused by problems in the global economy and the prospect of default on U.S. government debt.
This is bad news, because market participants earlier expected the situation with the rate to normalize. It was supposed to remain the same after the first summer meeting, and then go to the decline.
If riding a bucking bronco is your idea of fun, you’re going to love what the stock market has in store. Consider this past week’s ride a preview.The week’s action didn’t look like much, if you didn’t know better. The Dow Jones Industrial Average rose 213.12 points or 0.6%, while the S&P 500 advanced 0.5%, and the Nasdaq Composite ended little changed.
However, analysts are positive on the stock now. “We have seen a huge downside movement in the stock due to the central electricity regulatory commission’s (CERC) order that seems to be negative from 2014-15 onwards but we cannot take a linear negative view on the stock and further downside movement on the stock is unlikely. Currently stock is underpriced. Investors can bet on it for a longer horizon," said Vivek Gupta, director research at CapitalVia Global Research.
