Charles Payne's Market Commentary

Afternoon Note

Bracing for Fed Decision

By Karina Hernandez, Senior Research Analyst
6/15/2022 1:20 PM

Markets are seeing another seesaw session as investors brace for the Fed’s decision. The major average held onto gains even after a weaker-than-expected May retail sales.

For weeks, the members of the Fed have been saying they’re on board with increasing their key policy rate by 50 points at each of the next two meetings. Investors are now pricing in a 75-basis point hike when the FOMC announces its decision this afternoon.

Institution	Estimates
Barclays	+75bps
Deutsche Bank	+75bps
Goldman	+75bps
JPMorgan	+75bps
Jefferies	+75bps
Nomura	+75bps
Bank of America	+50bps
Morgan Stanley	+50bps

Eight of the eleven sectors of the S&P 500 are higher, led by Consumer Discretionary, while Energy is the worst performer. All the mega caps are higher with Amazon (AMZN) leading.

S&P 500 Index	+0.94%
Communication Services XLC	+1.72%
Consumer Discretionary XLY	+2.26%
Consumer Staples XLP		-0.01%
Energy XLE		-0.86%
Financials XLF	+1.31%
Health Care XLV	+0.67%
Industrials XLI	+0.81%
Materials XLB		-0.13%
Real Estate XLRE	+1.44%
Technology XLK	+1.60%
Utilities XLU	+0.13%

The NAHB Sentiment feel in June of 67 from 69 and in-line of consensus.

Single Family 77 from 78
Single family 6-months 61 from 63
Prospective Buyer Traffic swooned to 45 from 53

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