All Eyes On FOMC Decision - RICH TV LIVE

All Eyes On FOMC Decision - RICH TV LIVE - July 27, 2022 - #fomc #fed #richtvlive
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July 26th news recap
The markets were heavily red everywhere. And we're anticipating that that will probably lead into July 27th with lots of big news and a lot of earnings that have been coming out.

So stocks opened lower on the 26th. The Dow Jones closed 228 points down. NASDAQ was 220 points down as well. The TSX 131 was points down. So Canada. And the United States across the board were down. Bitcoin was back down under $21,000 and Ethereum below $1400.

Not good numbers for Walmart and they are dragging down the market. Microsoft and Google didn't have amazing earnings either. Microsoft also reported somewhat similar numbers. So we're going to be watching how that affects the market tomorrow. Nothing spectacular, that's for sure. And a lot of misses. So it doesn't look like the numbers are going to be really great for tomorrow going into the big fed decision. But right now, Google is actually up after reporting a small little miss on earnings, essentially meaning that we are finding a bottom for the lot of these stocks.

Upcoming events to keep your eye on for July 27th

Core durable goods orders month-over-month coming out. That's going to have a medium impact on the market.

Durable goods orders month-over-month is also going to have a medium impact in the market.

FOMC statement is what we've been waiting for. While the FED talks, this will have a very high impact on the news. So trade very carefully. The federal funds rate is most likely to experience a hike. So, this will have a high impact on the market. We are expecting a 0.75 basis point hike. Maybe as much as 1 full percent. So we believe that will most likely have a drag on the market mainly due to companies not really reporting strong.

Bitcoin & Ethereum
As far as Bitcoin (BTC) is concerned, it had a nice little run. Just over the last week or so, we've seen this huge move on BTC hitting the high of the month of $24,000 and just a few weeks before that hitting a low of $18,000. So a lot of volatility for Bitcoin. It is sitting right now at $20,997.

Ethereum (ETH) also looks pretty bearish just like Bitcoin. ETH went up to higher levels and now it is starting to come back down. So tread carefully with Ethereum.

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