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What to Watch

MARKET INSIGHT
Main focus on the FOMC announcement at 1400ET and Chairman Powell's presser at 1430ET, after this morning's economic data:
  • Adv Goods Trade Balance (-$101B deficit vs. prior -$98.0B rev);
  • Wholesale Inventories MoM (2.1% higher than est 1.2%)
  • Retail Inventories MoM (4.4% higher than est 2.0%)
Next up:
  • New Home Sales at 1000ET (744k, 760k); MoM (12.4%, 2.2%)
  • Treasury auctions at 1130ET: $40B 119D bill CMB and $26B 2Y FRN Note auction (91282CDU2).
  • President Biden will hold BBB meeting with corporate leaders and CEOs at 1300ET.
  • Geopol headline watching: any escalation of Russia/Ukraine tensions.

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