U.S. rolls out tariffs on Chinese goods. President Trump approved a list of more than 1,100 items expected to generate ~$50 billion in taxes on Chinese imports.
Macro Market Movers
The Federal Reserve (Fed) raised the fed funds target rate 25 basis points (0.25%) to a range of 1.75-2.00%, but that wasn’t news since the market knew it was coming.
Fed follows through with a hike and a hawkish tilt. As expected, the Federal Reserve (Fed) raised the fed funds rate 25 basis points (0.25%) to a range of 1.75-2.00%, as well as its guidance for future hikes.
The 2018 FIFA World Cup™ kicks off tomorrow, as 32 countries vie for one of the greatest trophys in the world of sports. The tournament has taken place every four years since 1930, making this the 21st World Cup.
Fed day. The Federal Reserve (Fed) is expected to increase rates this afternoon by 25 basis points (.25%) to a target rate of 1.75%-2.00%.
After the longest run of outperformance of growth over value stocks ever, we believe value may be poised for a comeback. Year to date as of 6/11/2018, the Russell 1000 Growth Index has returned 9.5%.
A denuclearized North Korea. President Trump’s historical meeting with North Korean leader Kim Jong-Un in Singapore concluded with the signing of a document that states North Korea will work toward complete denuclearization.
For starters, consider that going clear back to the Civil War, the United States has never gone a full decade without a recession (the 1990s expansion straddled the century mark).
Fed likely to raise rates; median forecast may move to four hikes in 2018. With a rate hike all but priced in at the conclusion of the Federal Reserve’s (Fed) policy meeting Wednesday.
Along the way, however, both the Russell 2000 Index and Nasdaq posted new record highs after upbeat data on the services sector followed up last week’s better-than-expected reads.