Focus Turns to the Fed | The Trading Room

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WORLD HEADLINES – European stocks drifted lower with S&P 500 futures as investors prepared to digest a flood of earnings as well as the latest clues from the Federal Reserve on monetary policy in the world’s biggest economy.

STOCKS – Earnings and U.S. monetary policy have become the main drivers of market sentiment this week. That’s giving respite from a backdrop of worsening trade relations between the world’s biggest economic powers.

BONDS – The yield on 10-year Treasuries declined less than one basis point to 2.85 percent.

COMMODITIES – West Texas Intermediate crude fell 0.2 percent to $67.95 a barrel, the lowest in almost four weeks.

CURRENCIES – The New Zealand dollar jumped after the central bank’s core inflation measure accelerated at the fastest pace in seven years.

ECONOMIC DATA – U.S. Capacity Utilization Rate due at 9:15 and Fed Chair Powell Testifies at 10:00 ET.

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