Markets in tune to the upside awaiting the Fed decision tonight. The Ftse Mib moves to 22,861 points (+ 0.29%) with the banks in the front row. Increases of over 1% for Banco BPM, Bper and Unicredit. Utilities, on the other hand, fell with -0.8% for Hera and -0.5% for Terna. At the end of the Ftse Mib there is Amplifon (-2.19%) with the warning from Demant which pre-announced the results of the third quarter due to weaker than expected performances in the hearing aid and communication markets.
Yesterday closing in the red for Wall Street pending the announcement of the Fed on rates, scheduled for today. The Dow Jones Industrial Average lost 79.75 points, or -0.24%, to 32,653.20 points, while the S&P 500 lost 0.41% to 3,856.10. The Nasdaq Composite fell 0.89% to 10,890.8 points.
The Fed is expected to make its fourth consecutive rate hike of 75 basis points. The hike should bring rates from the current range between 3% and 3.25% to the new range between 3.75% and 4%. In recent weeks, the expectation of a possible more dovish indication from Powell about the next moves has spread with the peak of rates that could be near. Goldman Sachs expects US rates to peak at 5% with a further tightening of 50 basis points in December, 25 basis points in February, and another 25 basis points in March.