July 31, 2018
Overnight, the Bank of Japan decided that no major changes were necessary in their super-low-interest rate policy, as they continue to try to stoke some semblance of price inflation.
Tomorrow, we’ll find out what the chieftains of our Federal Reserve say. There will be no presser after the decision is announced tomorrow, and the Fed usually moves rates only at meetings that include a post-announcement press conference. Accordingly, the smart money says “no move tomorrow, but the September meeting looks like a lock for higher rates. The Bank of England will chime in on Thursday.
A couple of big earnings announcements are having little impact on their respective stock prices pre-market. Pfizer reported 81 cents per share in profit, seven cents better than expected. They raised earnings but lowered the sales outlook. Procter& Gamble’s 94 cents of profit was a 4 cent beat, but sales missed. Pfizer...