On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains discusses what investors might expect from the U.S. Federal Reserve’s two-day policy meeting as Wall Street awaits another interest rate cut. The episode then dives into the latest global oil news after the weekend’s attacks on Saudi Arabia’s oil fields. We also take a look at some positive U.S. economic news and close with why Jones Lang LaSalle (JLL - Free Report) stock is a Zacks Rank #1 (Strong Buy) right now.
The U.S. Federal Reserve began two days of policy meetings Tuesday. Wall Street is watching the Fed closely amid global economic slowdown fears. Many traders and analysts have already priced in a rate cut, which would be the second in three months. However, there now seems to be a bit less certainty that Fed Chair Jerome Powell will announce a rate cut Wednesday.
The ongoing U.S. and Chinese trade war continues to loom over the U.S. economy, even though talks are now scheduled to begin early next month. Meanwhile, some positive U.S. economic news came out Tuesday that pointed to a comeback from the U.S. industrial sector.
Nonetheless, the Dow had fallen through morning trading, after Monday’s downturn snapped an eight-day winning streak. Global oil prices remained a hot topic Tuesday as global supply fears swirled. Investors and analysts must now determine just how much harm this weekend’s attacks on Saudi Arabia’s oil industry truly caused.
American Airlines (AAL - Free Report) stock took a major hit Monday, as oil prices soared, only to pop Tuesday. Meanwhile, WeWork is now expected to delay joining the likes of Uber (UBER - Free Report) , Lyft (LYFT - Free Report) , Pinterest (PINS - Free Report) , and others on the public markets.
On the earnings front, Adobe (ADBE - Free Report) and FedEx (FDX - Free Report) are both expected to report their quarterly financial results after the closing bell today, with General Mills (GIS - Free Report) is set to release its earnings Wednesday.
Thursday’s episode of Free Lunch then closes with a look at why Jones Lang LaSalle is a Zacks Rank #1 (Strong Buy) stock.
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