Wait For It: Tech Executives In Washington And Fed Meeting Wrapping Up, Followed By Facebook
- Date: 29-Jul-2020
- Source: Forbes
- Sector:Financial Markets
- Country:GCC
Wait For It: Tech Executives In Washington And Fed Meeting Wrapping Up, Followed By Facebook
Getty Images
Getty Images
Key Takeaways:
Investors waiting for Fed meeting, tech testimony, Facebook earnings
GM, GE, and BA all reported this morning, with a mixed bag of results
Focus still on Washington as stimulus package debate could influence trading
The Wednesday wait is on, with two key things in focus: The Fed meeting that wraps up after lunch and today's congressional testimony from tech executives where they're likely to be grilled on alleged anti-competitive practices.
As we said the other day, it would be a "moonshot“ headline if the Fed actually did anything on rates, but you always should consider listening to what they have to say.
Then you have executives from Apple (AAPL), Amazon (AMZN), Facebook (FB), and Alphabet (GOOGL) on Capitol Hill. With this hearing, market impact could depend on the line of questioning. Is it going to be about breaking them up and going after monopolies? There's likely to be some grandstanding, as you often see with these sorts of things. But how serious will the discussion get?
Speaking of FB, another thing to hold tight for is