Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m.
Here’s a recap of Wednesday’s key moments. 1. Stocks are little changed ahead of the Federal Reserve’s interest rate decision Wednesday afternoon, followed by Fed Chairman Kevin Warsh’s post-meeting press conference. Central bankers are widely expected to hold rates steady, though investors will be listening to Warsh for signals of additional hikes.
The market odds of a December rate increase, which would be the second this year, are around 78%, according to the CME FedWatch tool . Jim Cramer said that uncertainty about rates, the midterms, and oil is keeping the market in a holding pattern, making it difficult for even strong earnings reports to lift stocks. “All you really should be looking at are oil and interest rates because they are in control,” he said. Both are higher.