Alibaba IPO and Fed Rate Speech Hangs Over Market

The Fed meeting and Alibaba’s upcoming initial public offering (IPO) are hanging over the market this week and both could influence stocks again Tuesday.

Stocks have traded nervously before the outcome of the Fed’s two-day meeting, which starts Tuesday. Traders are awaiting Wednesday’s statement, which some Fed watchers believe could signal a more hawkish tone.

The Alibaba IPO, meanwhile, got even bigger Monday when underwriters raised the price range after signs of strong demand. The Chinese e-commerce giant is now expected to price its IPO in the range of $66 to $68 per share, valuing the offering at as much as $21.8 billion.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza