"Traders need to be really careful here, in my view. The Federal Open Market Committee is widely expected to pause in the 3.5% to 3.75% range for the third consecutive meeting."
"It's possible Powell will decide to remain, denying Trump another seat pick for the time being. Polymarket traders are pricing roughly a 99.5% probability that Powell is out as Chair by May 31, 2026."
"Starbucks beat on both lines, with adjusted EPS of $0.50 versus $0.44 expected and global comparable store sales up 6.2%. CEO Brian Niccol called it 'the turn in our turnaround.'"
"UPS beat with adjusted EPS of $1.07 but only reaffirmed its $89.7 billion revenue outlook, and CEO Carol Tomé flagged tariffs and trade policy as ongoing risks."
Traders are advised to be cautious as the Federal Open Market Committee is expected to maintain interest rates in the 3.5% to 3.75% range. Jerome Powell's future as Chair remains uncertain, with a high probability of his departure by May 2026. Earnings reports show companies like Starbucks and Coca-Cola beating expectations, yet many have not raised guidance due to external factors like oil prices and geopolitical issues. UPS and General Motors also reported strong earnings but highlighted ongoing risks.
Read at 24/7 Wall St.
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