Happy Fed Day! Ed’s Daily Notes for April 30th   Leave a comment

janet_yellen

Today may be one of the biggest news-driven days of the year for the markets.

First, at 8:30 am EST, we get the first guess/report of 1st quarter U.S. GDP. According to Bloomberg, the consensus is calling for an increase of 1.1%, within a range of 0.5% to 2.0%.

But the gala event comes at 2:00 pm EST, when we get the Federal Reserve’s rate announcement. While it is generally expected the Fed won’t do anything with rates, and they will continue to taper another $10 billion from QE, the markets will be watching closely to see when the Fed thinks they will be raising rates. The markets could be slam-dunked by an unpleasant surprise, or they could get a big lift from some good news. On the other hand, a mixed message could have either effect on the markets today, but keep the markets trading in a range over the next few weeks after everyone sees the other stuff they didn’t want to see.

Speaking of slam dunks…

Time: Welcome to the Finger-Wagging Olympics

I didn’t want to get into the whole Donald Sterling/L.A. Clippers/racism fiasco, because it just doesn’t have anything to do with the markets. However, for what it’s worth, the above editorial by former basketball great Kareem Abdul-Jabbar sums up my opinion on the topic perfectly.

Fox News: ‘Star Wars: Episode VII’ cast revealed

Good news for Star Wars fans, as well as Disney shareholders:

John Boyega, Daisy Ridley, Adam Driver, Oscar Isaac, Andy Serkis, Domhnall Gleeson, and Max von Sydow will join original stars Harrison Ford, Carrie Fisher, Mark Hamill, Anthony Daniels, Peter Mayhew, and Kenny Baker in “Star Wars: Episode VII.”

Filming begins in May. I was hoping for a May 4th start:

may_the_fourth_logo(hat tip to The Star Wars Trilogy for the pic)

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Posted April 30, 2014 by edmcgon in Economy, Editorial/opinion, Federal Reserve, Humor, Movies, News

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