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All Eyes on Fed, Housing, Biden Meets the 'Killer:' 3 Things to Watch

Stock MarketsJun 15, 2021 03:55PM ET
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© Reuters.

By Christiana Sciaudone

Investing.com -- U.S. stocks spent almost the entire day in the red, with a drop in retail sales and an uptick in producer prices weighing on sentiment a day ahead of the Federal Reserve rate decision. 

The Fed's regular meeting began today, and the central bank is expected to announce unchanged interest rates and monthly bond purchases on Wednesday. But what we're all really looking for is any evidence of the bank's thinking on inflation and possible bond-buying tapering.  

Data earlier today showed that wholesale inflation jumped to record levels, a week after consumer prices rose to their highest level since 2008. But is it transitory?? Time will tell, my friends.     

Oil prices were the highest in three years on expected gasoline demand, despite disappointing demand from the Memorial Day weekend and unofficial start of road trip summer. 

In geopolitics, the world's heating up the popcorn to watch President Joe Biden meet Russia's Vladimir Putin. Here's hoping for a civil and peaceful discourse.

Here are three things that could affect markets tomorrow:

1. Decision Day 

The Federal Reserve and Jerome Powell take center stage. Rates are likely to stay put. Everyone will be looking for clues and clarity on when policy makers will begin to discuss tapering, whether the recent bump in inflation is still "transitory" and how the overall recovery is going. Powell takes questions after the decision at 2:00 PM ET (1800 GMT).

2. Housing starts

We get a look at the health of the housing market. Housing starts are expected to increase to 1.63 million in May, up from April's 1.57 million. Building permits and MBA mortgage applications are also due out at 8:30 AM ET.

3. 'Killer' meeting

Biden and Putin will have their first face-to-face meeting in Geneva, Switzerland. It's likely to be awkward, what with Biden having called Putin a "killer" in an interview earlier this year. Expect sanctions and cyber attacks to be high on the list of topics discussed. 

 

 

 

 

 

 

 

 

 



 

 

 

 

All Eyes on Fed, Housing, Biden Meets the 'Killer:' 3 Things to Watch
 

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Comments (14)
rmdebla smith
rmdebla smith Jun 16, 2021 8:11PM ET
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Russia is a shoplifter  compared to down the street  competitors: United States (GDP: 20.49 trillion) China (GDP: 13.4 trillion) Japan: (GDP: 4.97 trillion) Germany: (GDP: 4.00 trillion) United Kingdom: (GDP: 2.83 trillion) France: (GDP: 2.78 trillion) India: (GDP: 2.72 trillion) Italy: (GDP: 2.07 trillion) Brazil: (GDP: 1.87 trillion) Canada: (GDP: 1.71 trillion) And  where's  Russia.
Tony Cheng
Tony Cheng Jun 16, 2021 3:26AM ET
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Biden will plead and apologize to Putin for calling him a killer. Biden knows that to have a greater relation with Putin, that Biden must compromise the USA.
Eudon Hickey
Eudon Hickey Jun 16, 2021 2:12AM ET
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Putin has more class and style, so he wont call Biden a *******or a thief. Besides, Putin respects the position, not the person
Yash Agarwal
Yash Agarwal Jun 15, 2021 7:55PM ET
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All fed traders need is an ioer hike and comments on tapering. *grabs popcorn*
せ三ヨン しらりん
せ三ヨン しらりん Jun 15, 2021 7:23PM ET
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Biden has been cordial and amicable with even the staunchest fans of Trump. I expect him to be the same with Putin.
Eudon Hickey
Eudon Hickey Jun 15, 2021 7:23PM ET
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What are tou talking about? Biden does not know what country needs rebuilding. Do you actually listen to Biden. Nothing makes sense. Even the European leaders were giggling at Biden. There was a black president in the meeting and Biden did not even know who he was. Shocking, but go on, eat your cake
Ad Cline
Ad Cline Jun 15, 2021 6:59PM ET
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Putin is in danger if being removed. Putin better not ****this meeting up.
Greg Heal
Greg Heal Jun 15, 2021 6:59PM ET
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BS..... He'll rule for 40 years more. Russian tradition, you know.......
Zach VanDeusen
Zach VanDeusen Jun 15, 2021 6:59PM ET
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Ad, is naive!
Ad Cline
Ad Cline Jun 15, 2021 6:54PM ET
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Putin will do what he's told, by Biden, or face the consquences. Putin's thievery and incompetence has damaged the long term possibilities for Russian economic development and has made Russia vulnerable ro economic dislocationan and political instability.Putin ether goes along or he will become a political liability to the Russian elites and be removed.
Casi Peli
Casi Peli Jun 15, 2021 6:54PM ET
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No one should do whatever others want. Point blank. russian elites are russians they will never go against putin. One world goverment does not suit for everyone. Why Russia should obey to Usa? Do not get it...
Marcell Gill
Marcell Gill Jun 15, 2021 6:39PM ET
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Yall think Joe will remember who he’s talking to? Lol
Jim Herndon
Jim Herndon Jun 15, 2021 6:35PM ET
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Putin should challenge him to arm wrestle
Gene Kret
Gene Kret Jun 15, 2021 6:33PM ET
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Screw Putin, pot stocks are about to 🚀🚀
Greg Heal
Greg Heal Jun 15, 2021 6:33PM ET
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Send them a joint, just one for two to fire it up and then do the talking. Pot stocks will rocket then
Notvery Goodathis
Peteymcletey Jun 15, 2021 5:52PM ET
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Expect Biden to give him everything he wants and then just say in public that he's bad.
palmer gossett
palmer gossett Jun 15, 2021 5:52PM ET
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He already gave him Nordstreem pipeline. Huge revenue boost for Russia
Kenneth nelson
grasshopper Jun 15, 2021 5:52PM ET
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Bl den makes a fool of himself again
Ad Cline
Ad Cline Jun 15, 2021 5:52PM ET
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grasshopper has come out if the Russian woodwork again.
James Andrews
James Andrews Jun 15, 2021 5:50PM ET
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Like a dying old Labrador meeting a Rottweiler in his prime..
Alan West
Alan West Jun 15, 2021 5:50PM ET
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Putin is a ‘rottweiler’? He’s not well, a dictator past his use-by-date.
Ad Cline
Ad Cline Jun 15, 2021 5:50PM ET
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Putin better do as Biden tells him. politically Putin is in danger of being "removed"from office. for his massive incompetence.
Joel Schwartz
Joel Schwartz Jun 15, 2021 5:50PM ET
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What is it with GQP people idolizing dictators?
Joe Lock
Joe Lock Jun 15, 2021 5:02PM ET
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Don't let Biden drink the Russian tea
 
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