MORNING MINUTE JUNE 22nd

Morning everyone. Darren Leviathan Financial. So what do we have for you today? the Swiss National Bank raise rates. to one and three quarter percent and as we speak, the Bank of England have raised their rates by a quarter of percent as well. Uh, yesterday we had. Fed Chairman Powell talking to the house today, talks to Senate, and he was also indicating that there could be two more rate hikes in the offering by the end of the year before we reached that terminal rate. , this has obviously had a negative impact on stocks s and p , futures are coming in. You’re only gonna be down about 0.2%. , as obviously the increase in rates increases the chance of a recession. Uh, but as we’ve seen, the economy and especially the stock markets have been very resilient.
European stocks, , the FTSE was down 1%, rallying slightly. Still they’re in negative territory the Euro stocks, uh, down 0.7%. Also rallying off of those, uh, people were expecting maybe half percent from the Bank of England. Uh, so watch for the headlines as they roll out, as they’ve just happened. So anyway, rest of today you’ve got existing home sales that will give you good indication as to whether or not people are still buying houses in the face of, , the higher rates.
FED Chairman Powell testified to senate today, probably reiterating what he said yesterday. A couple other Fed speakers and leading economic indicators. Uh, so anyway, watch out for all rate news. And good luck everyone, and have a great day.