Market Report Jun 15 2023

Markets:

PPI data was released on Wednesday, but the market was mainly interested in one thing yesterday, the FOMC statement. As expected, in a unanimous vote, the FOMC retained the federal funds rate target range at 5.00-5.25%.

Leading up to the event, the market started to sell off, but following the commencement of Fed Chair Powell's press conference, the market regained some strength as stocks started to rebound.

Sectors:

The sectors were mixed, with XLK ending the day as the best performer.

Javid Shaik

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