June 18 Update

Fed freakout yesterday.  Large stock market drop on the Fed news. 

FOMC kept rates unchanged on the fed funds rate.  But the news was that 9 members expected a rate increase before the end of the year.  Traders are pricing in 49% of a chance of a rate hike in September. 

But is inflation peaking?  Oil plunging which will influence upcoming inflation reports.   

Kevin Warsh announced reform coming to the Fed.

Markets are rebounding this morning.  Iran peace deal. 

Triple witching hour – stock options, index futures, stock index options and options on futures.  Typically brings higher trading volumes and can cause enlarged volatility. 

SpaceX traded up to $225 but is down 6% this morning below $190.