Post Fed Market Wrap and Must Reads

  The only way to end your day   📉Market drops after Fed speaks Major indexes pulled an okey doke Wednesday - opening higher before selling off after the Federal Open Market Committee announced a 0.25% basis point hike. The S&P 500 Index ETF (SPY) fell 0.69% while the Nasdaq-100 ETF (QQQ) dropped 0.65%. The small-cap focused Russel 2000 ETF (IWM), which at one point had risen nearly 2%, ended the trading session with a 0.37% gain. Investors had been expecting the 0.25% interest rate hike from the Fed, as Fed Funds Futures traders had priced in an 85% probability of that hike going into today's trading. However, Fed Chairman Jerome Powell ruled out cutting interest rates in a post-FOMC presser, because he did not expect inflation to come down quickly enough. Analysts continue to speculate on a future pause in the Fed's interest rate hike cycle, while the Fed continues to maintain that any future decisions will be driven by incoming economic data. 🛢️ Oil, natural gas drop for the second day West Texas Intermediate (WTI) oil contracts fell 4.77%, while natural gas shed 2.62%. This dragged the energy sector (XLE), which fell 1.84%. ⛏️ Alternative investments mixed The price of gold rose 0.84%. Over the past 24 hours, Bitcoin (BTC) and Ethereum (ETH) fell 1.26% and 0.2%, respectively. 👨‍🌾 Economic Data ADP Non-Farm Employment numbers came in well above analysts' expectations early Wednesday, which could be an indication of an improving jobs market. Unemployment claims numbers drop Thursday before the market opens, and Non-Farm Employment Change and Unemployment Rate numbers drop Friday. These numbers are significant, especially since the Fed will continue to look toward economic data for any potential policy shifts. To see the market's reaction to these numbers LIVE - and learn how you can potentially trade this reaction - be sure to tune into [Money Morning LIVE every day at 8:30 AM ET right here.]( 📊 Earnings on deck Wednesday after market close: Qualcomm (QCOM), Etsy (ETSY), Sunrun (RUN) Thursday before market open: Data Dog (DDOG), Moderna (MRNA), Royal Shell (SHEL) Today's leading sectors: Biotech (XBI +4.36%) Today's lagging sectors: Energy (XLE -1.89), Financials (XLF -1.14%)   Must Reads     The Technical Balance of Power Hangs on the Fed The FOMC decision came this afternoon, but who are we kidding, it’s been made for a while. And for what it’s worth, the market has already priced in that decision – to raise rates another 0.25% and hold out for the “data” to give them a better view. Given that, I really don’t care much for what the Fed says. Hell, it’s honestly a little refreshing to see the Fed matter less – yes, you heard me right, matter LESS. [Because if that’s the case, the market would then start trading more on the fundamentals and technicals.]( [Continue Reading](     The market is rigged and this proves it I just got done trading the Fed news with Garrett {NAME}… And what an event it was. Starting right at 2 pm ET the markets ripped to both sides for absolutely no reason… And then it happened. We defined our levels, looked at what the market was doing. And with our powers combined, we made one of the best calls in the history of Trading the Fed. [Continue Reading](     [The Fastest Profits We’ve Ever Seen]( See how Kenny Glick ignores market catastrophes to hunt [rare]( outsized homeruns like 650% in one day, 700% in 6 hours, & a once-in-a-lifetime 2400% in 4 hours.]( [Continue Reading](     What the Fed Won’t Tell You About the Impending Recession Let’s talk about the recession. Or, lack thereof, depending on who you ask—the U.S. Federal Reserve and empty suits over at JP Morgan want you to think everything is fine. They’ll tell you to ignore the three major banks that have collapsed since March. [What they won't tell you...]( [Continue Reading](     This One Ticker Will Tell You When the Banking Crisis Is Really Over The Fed is expected to raise interest rates another 25 basis points, and analysts expect they’ll pause for a while after that. I’m also pretty confident that’s the case, but I’m not taking it as the stellar news for the market that many media outlets are, because things are complicated out there. Case in point: Apple Inc (AAPL), which has been one of the main stocks driving the overall rally we’ve seen in markets the past few weeks, is set to report earnings on Thursday. [Stuart Varney, on his Fox Business show Varney & Co., asked me...]( [Continue Reading](     There’s “Rich”... And Then There’s “Texas Rich” As we speak, a massive bidding war in the oil fields of the Permian Basin is setting up for a new generation of “Texas Rich.” All you need to know is the right acquisition targets and how to play ‘em. Garrett {NAME} is sharing the full game plan: his targets, the buyers, and the date of every single deal. If you’re ready to learn the meaning of “Texas Rich,” [Check it out by clicking here.]( [Continue Reading](   We’d love to hear from you! There’s nothing more that we value than hearing from our loyal Money Morning LIVE audience! (Especially hearing how much you LOVE the content you receive from Trading Today) So whatever your pleasure - whether it’s [Twitter]( [Instagram]( [TikTok]( or [Facebook]( - give us a like, a follow, or leave us a comment (or an emoji 💸)! 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