Wednesday, November 2, 2016

Carbon Copy FOMC Statement: Good For Bulls

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*The Fed left most of the language from the September statement unchanged.
*The most important language about timing for a hike was also unchanged.
*That can mean a rate hike gets pushed out into 2017 which is bullish.


There were few changes in today's FOMC statement. The most important language was unchanged. That has major significance however. Not targeting a hike in December in the statement as many expected could mean they will push out the move to 2017. That would ultimately be positive for stocks (NYSEARCA:SPY)(NYSEARCA:IWM).
First What Did Change In The Statement
Household spending went from "growing strongly" to "rising modestly."
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