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Morning Brief: Investors seek clarity on monetary policy from Fed minutes

Wednesday, February 20, 2019

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Market watchers will turn their attention to the Federal Open Market Committee's (FOMC) January meeting minutes that will be released at 2 p.m. ET.

Given the Fed’s recent dovish pivot, investors will be looking for more clarity around the Fed’s monetary policy path for this year after holding rates steady during the January meeting and hiking rates four times in 2018. Furthermore, investors will also be on the lookout for any additional details regarding reducing the $4 trillion in bonds on the central bank’s balance sheet.

Additionally, the following companies will be releasing financial results on Wednesday: Targa Resources ( TRGP ), Owens Corning ( OC ), Gannett Co. ( GCI ), Harry Schein ( HSIC ), Bausch Health Companies ( BHC ), CVS Health Corporation ( CVS ), and Analog Devices ( ADI ) before market open; CyrusOne ( CONE ), GoDaddy ( GDDY ), Albemarle Corporation ( ALB ), Avis Budget Group ( CAR ), Boston Beer ( SAM ), Carbon Black ( CBLK ), Cheesecake Factory ( CAKE ), Jack in the Box ( JACK ) after market close.

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El presidente Donald Trump hace una pausa durante un evento en la Oficina Oval de la Casa Blanca, el martes 19 de febrero de 2019, en Washington. (AP Foto/ Evan Vucci)

Deutsche Bank weighed restructuring Trump loans : Top Deutsche Bank AG executives were so concerned after the 2016 U.S. election that the Trump Organization might default on about $340 million of loans while Donald Trump was in office that they discussed extending repayment dates until after the end of a potential second term in 2025, according to people with knowledge of the discussions. [Bloomberg]

Trump: March 1 deadline for China trade talks not 'magical' date : U.S. President Donald Trump said on Tuesday that trade talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations, saying March 1 was not a "magical" date. [Reuters]

Also: Trade war truce before deadline is 'far-fetched': strategist [Yahoo Finance]

Glencore plans new buyback as trading profit disappoints : Glencore Plc reported its weakest trading profit in five years and missed analysts’ earnings estimates, even as the mining giant promised to increase its rewards to shareholders after a tough year. Still, Glencore’s shares rose with other miners in London after it announced a new $2 billion buyback program and said it plans to return another $1 billion after selling non-core assets over the course of this year. [Bloomberg]

Musk revises Tesla forecast hours later : Elon Musk corrected a prediction for how many cars Tesla Inc. ( TSLA ) would make in 2019, just hours after tweeting that production would reach about 500,000 vehicles this year. [Bloomberg]


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