The U.S. benchmark stock index S&P500 is up almost 1.4 percent today, heading to the FOMC meeting, as the market is pricing that the U.S. Federal Reserve may not raise rates at today’s meeting amid lower energy prices, a slowdown in growth around the world, especially in the Eurozone and in China, falling headline inflation and signs of weakness in the labor market. As the Federal Reserve Chair Powell indicated earlier this year that monetary policy is not on a preset course, the Fed might actually stay away from the promised rate hike.
However, our calculations suggest that even if the Fed goes for a rate pause at today’s meeting, the S&P500 is likely to decline further and reach our forecasted target of 2280 area going ahead. We expect the index to hit the target by the first quarter of 2019, https://www.econotimes.com/FxWirePro-Sell-SP500-targeting-2275-in-short-term-1470823
