Posted 1/31/2024, 1:08:00 PM
Fed Decision Unlikely to Rock Markets; Traders Eye Global Conflicts, Trade, Microsoft AI Growth
- Federal Reserve interest rate decision unlikely to significantly impact markets; inflation cooling and economy resilient
- Escalating Middle East conflicts presenting rising risk of inflation due to impact on global shipping and oil prices
- Microsoft earnings beat expectations, driven by strong growth in artificial intelligence investments
- Traders focused on other pressing economic matters besides Fed policy, including US-China trade tensions and slowing China economy
- Repeated attacks around Suez Canal disrupting global trade; up to 30% of container shipments transit the waterway