Beat the street: Fed vigil; UAW: no deal yet; FedEx; Boeing
US stocks indicated higher ahead of Fed, despite concerns over rates staying higher for longer. US auto strikes set to continue. FedEx earnings likely to show benefits from cost cuts. Boeing upgrades China delivery forecast.
(Video Transcript Summary)
Fed keeps us guessing
In this Beat the Street video, Angeline Ong brings us up to speed on what's happening in the financial markets. The big focus right now is the Federal Reserve's decision on interest rates, which means the central bank will make borrowing money either more expensive or cheaper.
Traders think that the bank might start lowering rates in September 2024. This decision will be based on things like how prices are changing and how well the economy is doing.
There are also strikes in the car industry in the US and Canada. The workers' union is trying to get a better deal for its members. If they can't reach an agreement by Friday, the strikes might carry on. But, good news for Canada, Ford managed to avoid a strike by coming to an agreement with their workers' union.
Success of FedEx is like an economic barometer
Next up, FedEx is about to release its earnings report, which should show that the company made more money by cutting costs. People see FedEx's success as a sign that the economy as a whole is doing well. It's also worth mentioning that FedEx's competitors are struggling, so they're benefiting from that too.
General Mills, a big food company, is expected to bring in more revenue in the first quarter. Boeing, the airplane maker, has also increased its forecast for how many planes it will deliver to China.
People in the financial markets are feeling a little cautious, as they are waiting to see what the Fed decides about interest rates before they make any big moves. So, there you have it - a snap-shot of what's happening on Wall Street, covering everything from interest rates to strikes and corporate earnings.
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