Trish: Don’t Hold Your Breath on the Fed

All eyes are on the Fed today, as investors wait for the Federal Reserve Open Markets Committee’s (FOMC) policy decision on interest rates.

But, let’s be honest: investors shouldn’t be so nervous. After all, we really can’t expect anything “revolutionary.” The Fed is too scared to stop printing money — so, the most we can hope for is that they’ll at least ACKNOWLEDGE inflation (of which we’re seeing plenty!)

That said, don’t hold your breath.

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The Fed worries that ANY indication of a pullback via higher rates or an actual tapering of its bond buying, might send markets into chaos.

Welcome to the crazy world of zero-percent interest rates.

Premarket

Stock futures wavered ahead of the Fed decision. Oil climbed to a pandemic-high on concerns over capacity. The crpyto market fell by almost 6% in the last 24 hours.

  • S&P 500 futures: 4,234.25, -0.05%
  • Nasdaq futures: 14,032.00, +0.07%
  • DOW futures: 34,130.00, -0.14%

U.S. Dollar and Treasuries

10-year Treasury yields and the dollar were little changed in premarket trading.

  • U.S. Dollar Index (DXY): 90.53, -0.01%
  • 10-year Treasury yield: 1.499%
  • 2-year Treasury yield: 0.160%

Stocks To Watch

Stocks of a computer vision and machine learning company Alfi doubled after an announced agreement with All-Niter. The company will manufacture 10,000 digital tablets for Uber and Lyft drivers.

A technology distributor Forward Industries signed a distribution agreement with a device tracking company Chipolo. The company’s shares jumped 20% in premarket trading.

A schedule 13G filing revealed that RA Capital Management acquired about 7.5% of shares of Catabasis Pharmaceuticals. The company’s shares spiked as a result.

The retail investor rally in Torchlight Energy continues, as the company announced it would issue Series A Preferred Stock to all stockholders. The company also announced that the Metamaterial merger will close before the end of the month.

  • ALF Alfi Inc. $6.97, +104.40%, 1.07M (volume)
  • CATB Catabasis Pharmaceuticals $2.5, +22.55%, 1.96M (volume)
  • TRCH Torchlight Energy $5.6, +10.45%, 1.98M (volume)
  • FORD Forward Industries $3.28, ++20.15%, 719.01K (volume)

Commodities To Watch

Oil hit a pandemic high, as existing capacity might not be enough to meet demand as the economy reopens.

Some investors think renewables are to blame. Too much focus on renewables means that there’s not enough investment in oil and gas infrastructure.

  • WTI crude: $72.29, +0.24%
  • Brent crude: $74.26, +0.36%
  • Gold: $1,857.60, +0.06%

Crypto

The global crypto market cap decreased by -5.90% in the last 24 hours. Bitcoin dipped below $40,000.

  • BTC: $$39,061.50, 2.71%
  • ETH: $2,454.00, -5.40%
  • DOGE: $0.3105, -4.58%
  • SHIB: $0.000008523, +18.61%
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