{"id":74090,"date":"2024-03-20T09:01:38","date_gmt":"2024-03-20T13:01:38","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=74090"},"modified":"2024-03-20T09:01:38","modified_gmt":"2024-03-20T13:01:38","slug":"coffee-with-greta-waiting-on-the-fed","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/03\/20\/coffee-with-greta-waiting-on-the-fed\/","title":{"rendered":"Coffee With Greta: Waiting On The Fed"},"content":{"rendered":"

DJIA Futures: <\/b>-57 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-4 (-0.1%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+25 (+0.1%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are mixed as traders await today\u2019s Fed decision.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Fed Day<\/span><\/h2>\n

The Federal Reserve\u2019s two-day policy meeting wraps up today with an interest rate announcement at 2:900 p.m. ET.\u00a0<\/span><\/p>\n

The Central Bank is not expected to change rates at this meeting.\u00a0<\/span><\/p>\n

The focus for traders will be on the updated Summary of Economic Projections (dot plot) and the Chairman\u2019s press conference at 2:30 p.m.<\/span><\/p>\n

The Fed\u2019s most recent dot plot in December signaled plans for three rate cuts in 2024.\u00a0<\/span><\/p>\n

But hotter-than-expected inflation and labor market data since then is expected to have possibly dialed those plans back.\u00a0<\/span><\/p>\n

As of this morning, CME Group\u2019s FedWatch Tool shows 55% of traders betting on the first rate cut in June.\u00a0<\/span><\/p>\n

Chipotle Jumps After Announcing Stock Split<\/span><\/h2>\n

Chipotle Mexican Grill <\/b>(CMG) shares are up 5.5% ahead of the open after announcing plans for a 50-for-1 stock split.\u00a0<\/span><\/p>\n

In a filing after hours on Tuesday, the company said its board had approved the split.<\/span><\/p>\n

It is now subject to shareholder approval at the annual meeting on June 6.\u00a0<\/span><\/p>\n

If approved, shareholders of record as of June 18 will receive 49 additional shares for every one they own.\u00a0<\/span><\/p>\n

The stock is expected to begin trading on a post-split basis when the market opens on June 26.\u00a0<\/span><\/p>\n

Shares closed at a record high $2.797.56 on Tuesday and are up over 70% over the past year.\u00a0<\/span><\/p>\n

Mortgage Demand Falls<\/span><\/h2>\n

Weekly mortgage demand pulled back as rates pushed higher.\u00a0<\/span><\/p>\n

The Mortgage Bankers Association reported total application volume fell 1.6% last week.\u00a0<\/span><\/p>\n

Purchase applications fell 1% weekly and 14% year over year.\u00a0<\/span><\/p>\n

Refinance applications dropped 3% weekly and 3% annually.\u00a0<\/span><\/p>\n

The drop came as the average 30-year fixed contract rate rose to 6.97% from 6.84%.<\/span><\/p>\n

Mortgage News Daily currently shows the 30-year fixed rate back above 7%.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

DJIA Futures: -57 (-0.1%) SPX Futures: -4 (-0.1%) NASDAQ Futures: +25 (+0.1%) Good morning friends! Futures are mixed as traders await today\u2019s Fed decision. Let\u2019s get right to it! Fed Day The Federal Reserve\u2019s two-day policy meeting wraps up today with an interest rate announcement at 2:900 p.m. ET.\u00a0 The Central Bank is not expected to change rates at this meeting.\u00a0 The focus for traders will be on the updated Summary of Economic Projections (dot plot) and the Chairman\u2019s press conference at 2:30 p.m. The Fed\u2019s most recent dot plot in December signaled plans for three rate cuts in 2024.\u00a0 But hotter-than-expected inflation and labor market data since then is expected to have possibly dialed those plans back.\u00a0 As of this morning, CME Group\u2019s FedWatch Tool shows 55% of traders betting on the first rate cut in June.\u00a0 Chipotle Jumps After Announcing Stock Split Chipotle Mexican Grill (CMG) shares are up 5.5% ahead of the open after announcing plans for a 50-for-1 stock split.\u00a0 In a filing after hours on Tuesday, the company said its board had approved the split. It is now subject to shareholder approval at the annual meeting on June 6.\u00a0 If approved, shareholders of record as of June 18 will receive 49 additional shares for every one they own.\u00a0 The stock is expected to begin trading on a post-split basis when the market opens on June 26.\u00a0 Shares closed at a record high $2.797.56 on Tuesday and are up over 70% over the past year.\u00a0 Mortgage Demand Falls Weekly mortgage demand pulled back as rates pushed higher.\u00a0 The Mortgage Bankers Association reported total application volume fell 1.6% last week.\u00a0 Purchase applications fell 1% weekly and 14% year over year.\u00a0 Refinance applications dropped 3% weekly and 3% annually.\u00a0 The drop came as the average 30-year fixed contract rate rose to 6.97% from 6.84%. Mortgage News Daily currently shows the 30-year fixed rate back above 7%.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":74096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-74090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/74090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=74090"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/74090\/revisions"}],"predecessor-version":[{"id":74097,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/74090\/revisions\/74097"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/74096"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=74090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=74090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=74090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}