*1. The US Federal Reserve Meets Today*
- *Interest rates are expected to hold steady* and this is likely Jerome Powell's last meeting as chair
- Reason: Oil is above *$110 per barrel* due to the war with Iran and the closure of the Strait of Hormuz
- *Kevin Warsh*, Trump's nominee to replace Powell, is up for Senate confirmation vote on Wednesday
*2. Oil Prices Surge Due to the Strait of Hormuz*
- *Brent $110+* after being $70 before the war on February 28
- *World Bank*: "The biggest oil supply shock ever"
- Energy prices are expected to rise *24% by 2026*
*3. Tech Earnings Today*
- *Amazon + Meta + Microsoft + Google* will announce their results after the US market closes
- The market is jittery due to a report that OpenAI did not meet user and revenue targets
*4. Quick News*
- *Visa*: Strong earnings and raised forecasts despite Middle East tensions
- *US halts chip equipment* for Chinese company Hua Hong
- *Gold*: $4,626 per ounce, and 21-carat gold in Egypt at 6,966 EGP
- *Emerging market debt* has reached critical levels due to the Iran war
*The Bottom Line*: The whole market today is focused on 3 things: the Fed's decision, Big Tech earnings, and the blazing oil prices.
$BTC
$ETH
$SOL
#Bigtech
- *Interest rates are expected to hold steady* and this is likely Jerome Powell's last meeting as chair
- Reason: Oil is above *$110 per barrel* due to the war with Iran and the closure of the Strait of Hormuz
- *Kevin Warsh*, Trump's nominee to replace Powell, is up for Senate confirmation vote on Wednesday
*2. Oil Prices Surge Due to the Strait of Hormuz*
- *Brent $110+* after being $70 before the war on February 28
- *World Bank*: "The biggest oil supply shock ever"
- Energy prices are expected to rise *24% by 2026*
*3. Tech Earnings Today*
- *Amazon + Meta + Microsoft + Google* will announce their results after the US market closes
- The market is jittery due to a report that OpenAI did not meet user and revenue targets
*4. Quick News*
- *Visa*: Strong earnings and raised forecasts despite Middle East tensions
- *US halts chip equipment* for Chinese company Hua Hong
- *Gold*: $4,626 per ounce, and 21-carat gold in Egypt at 6,966 EGP
- *Emerging market debt* has reached critical levels due to the Iran war
*The Bottom Line*: The whole market today is focused on 3 things: the Fed's decision, Big Tech earnings, and the blazing oil prices.
$BTC
$ETH
$SOL
#Bigtech