Traders see Fed on path for possible December rate hike
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall St. slips on earnings; Apple results due
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- Panera Bread (PNRA) Tops Q3 EPS by 3c; Raises Outlook
The U.S. Federal Reserve seen through a canopy of trees in Washington October 12, 2016. REUTERS/Kevin Lamarque
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
NEW YORK (Reuters) - U.S. short-term interest rates futures were little changed at lower levels on Wednesday following the release of the Federal Reserve's minutes from its Sept. 20-21 policy meeting, which supported the view of a possible rate increase in December.
Several members of the Federal Open Market Committee, the Fed's policy-setting group, thought a rate hike would be warranted "relatively soon" if the U.S. economy strengthens further, the minutes showed.
Three Fed policymakers dissented in favor an immediate rate hike at last month's meeting.
"We remain where we were: a market still betting Chair (Janet) Yellen wants a hike in December," Quincy Krosby, market strategist at Prudential Financial, wrote in a note regarding the minutes.
Federal funds futures implied traders saw about a 9 percent chance the U.S. central bank would raise rates at its policy meeting next month and a roughly 70 percent chance of a rate hike at its December meeting, according to CME Group's FedWatch program.
(Reporting by Richard Leong; Editing by Lisa Shumaker and Paul Simao)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AT&T's DirecTV Now online video service to cost $35 per month
- Michael Kors (KORS) volatility flat on tight four-month trading range
- Apple (AAPL) October 118.50 straddle priced for 4.4% movement into Q4
Create E-mail Alert Related CategoriesETFs, Fed, General News, Reuters, Trader Talk
Related EntitiesFederal Open Market Committee
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!