Investors waiting for Fed and major tech earnings

Investors waiting for Fed and major tech earnings

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Investors are digesting the earnings release from Microsoft, with tech giants Apple and Facebook reporting today. The US Fed ends its meeting today with markets anticipating its rate decision and comments from Chairman Jerome Powell.

On Tuesday, the IMF raised its forecast for global economic growth and now expects an expansion of 5.5% this year. The outlook for growth in Europe was lowered. Gita Gopinath, the IMF’s Chief Economist, posted that “there remains tremendous uncertainty and prospects vary greatly across countries”, and “much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens”.

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