Fed Debate and Earnings Palooza Could Steer Stocks Thursday

Thursday looms large as the busiest day of the earnings season, with pharma, consumer products, big oil, financials and autos reporting before the market opens.

Heavy hitters — Amazon.com and Alphabet — are among those reporting after the closing bell. Facebook joined the high-profile winners of the quarter, rising 6.5 percent after Wednesday’s close on stronger revenues.

The market will also keep the debate going on when the Fed will hike rates again, after it provided no clues in its post-meeting statement Wednesday. It did, however, upgrade its view on the economy, and some Fed watchers now see a possible opening for a hike in September. Others, however, are sticking to the view that December is more likely.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.