Morning Dose: Fed Watch Trading Signals Ahead of FOMC Meeting
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Market Briefing: Morning Dose – September 15th
Intro & Market Mood
Good morning traders! The market opens with a positive tilt as equity futures point to a modestly higher start. The sentiment is cautiously bullish, with all eyes on the upcoming Federal Reserve meeting.
Overnight Headlines
- China: Industrial production growth slows, Shanghai Composite down.
- Trade Friction: China launches new investigations into U.S. trade policy amid ongoing negotiations.
- Europe: Most major indices trading in the green.
Economic Announcements
No major economic announcements for today.
Earnings Highlights
- Tesla (TSLA): Up over 5% in pre-market with CEO Elon Musk buying shares and production plans in Germany revised upwards.
- NVIDIA (NVDA): Trading down 2% on reports of violation of China’s anti-monopoly law.
Top Movers
- BlackRock: Planning a significant investment in British data centers.
- V.F. Corp: Selling Dickies brand.
- TikTok: Speculation of a deal for its U.S. operations.
Quick Trade Ideas
SPY (S&P 500 ETF): Resistance at 660, support at 650 and 645. VXX (Volatility): Low volatility continues, providing support for equities.
Favor mega-cap tech and consumer discretionary names for potential gains. Watch Micron for strength, but maintain tight stops given mixed breadth and the upcoming Fed meeting.
Key Takeaway
Market sentiment cautiously bullish with focus on the Fed meeting. Stick with strong sectors and maintain caution at market highs.