It’s the Fed’s big day, Twitter tanks and Total results shine a bright spot on the oil rout. Here are some of the things that people in markets are talking about this morning.
Fed decision day
The Federal Reserve concludes a meeting on monetary policy today. Investors will be combing the post-meeting statement for signs that rates may go up at the next meeting in September.
Big oil beat
Total posted a better-than-expected profit in the second quarter after production and refining surged, which almost made up for the slump in crude prices. Oil resumed a decline today ahead of data forecast to show inventories expanded. Meanwhile, BP and Chevron are among firms seeking large discounts from contractors and sending some projects back to the drawing board to save costs.
Russia halts ruble rout
Russia’s central bank halted purchases of foreign currency to replenish the country’s international reserves, sending the ruble toward its biggest gain in almost three weeks. The ruble’s three-month implied volatility, a measure of exchange-rate swings, is at 19 percent, the highest globally.
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