FED lets the market slide + CVS is sued by the US Department of Justice
FED cuts interest rates as expected
Nevertheless, the entire stock market is falling. Why did this happen even though the FED cut interest rates by 25 basis points as expected?
- It is rather due to what the FED has promised for next year.
- It was also reiterated that no interest rate cuts are planned or promised for next year as a result of Trump's upcoming economic policy.
- This has taken the fuel out of the market and especially stocks that benefit from interest rate cuts.
- The rocket-like rises of recent weeks could therefore come to an end for the time being.
- The FED continues to declare that it is not allowed to hold bitcoins.
CVS $CVS (+0,57%)
is being sued
The U.S. Department of Justice is suing CVS for dispensing and billing illegal opioid prescriptions through state health insurance programs that allegedly contributed to the nationwide opioid epidemic. According to the indictment, CVS dispensed dangerous opioid quantities and combinations and premature refills from October 2013 to the present, in violation of the Controlled Substances Act.
Thursday: Stock market dates, economic data, quarterly figures
- ex-dividend of individual stocks
British American Tobacco GBP 0.59
Smith & Wesson Brands USD 0.13
- Quarterly figures / company dates USA / Asia
22:00 Fedex quarterly figures
22:15 Nike quarterly figures
- Quarterly figures / Company dates Europe
07:30 Douglas full year results
09:00 Douglas PK
11:00 Douglas Analyst Conference
- Economic data
08:00 DE: GfK Consumer Climate Indicator January FORECAST: -22.6 points previously: -23.3 points | Insolvencies January
08:45 FR: Business Climate Index December PROGNOSE: 96 previous: 97
13:00 UK: BoE, outcome and minutes of the Monetary Policy Council meeting December Bank Rate FORECAST: 4.75% previously: 4.75%
14:30 US: GDP (3rd release) 3Q annualized PROGNOSE: +2.9% yoy 2nd release: +2.8% yoy 2nd quarter: +3.0% yoy GDP deflator PROGNOSE: +1.9% yoy 2nd release: +1.9% yoy 2nd quarter: +2.5% yoy
14:30 US: Initial jobless claims (week) Forecast: 230,000 Previous: 242,000 | Philadelphia Fed Index December Forecast: 2.5 Previous: -5.5
16:00 US: Leading Indicators Index November FORECAST: -0.1% yoy previous: -0.4% yoy
16:00 US: Existing Home Sales November FORECAST: +2.5% yoy previous: +3.4% yoy
