Excerpt from MarketWatch quoting DataTrek’s Nick Colas:
…. “With the Federal Open Market Committee kicking off its two-day policy meeting, where central bankers are expected to announce a 0.75 percentage point rate hike, the Fed decision on Wednesday may once again be followed by stock-market gains, according to DataTrek Research co-founder Nicholas Colas.
According to Dow Jones Market Data, the previous four times the Fed raised interest rates in 2022 — March 16, May 4, June 15 and July 27 — the S&P 500 SPX rallied 2.2%, 3%, 1.5% and 2.6%, respectively.
“Wednesdays of Fed meeting weeks this year show the highest daily S&P returns of 1.8 percent on average for the 5-day period, and the best win rate as well,” the Wall Street veteran wrote in a Tuesday note”….
Full article here on MarketWatch.