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09:05
01/29/20
01/29
09:05
01/29/20
09:05

FOMC resumed its meeting, with the policy announcement due at 14 ET

FOMC resumed its meeting, with the policy announcement due at 14 ET. This should be a most uneventful meeting. No changes are expected to the 1.50% to 1.75% funds rate band. Policymakers have indicated they're on hold until there's a "material change" in the outlook, and that hasn't occurred yet. So far the coronavirus threat doesn't qualify. Indeed, analysts and the markets expect the Fed to be on hold all year amid moderate growth and tame inflation. The Fed won't really have to edit the accompanying policy statement and should reiterate the current stance is "appropriate." And Chair Powell's press conference shouldn't contain any surprises either. Look for him to repeat the economy and policy are in a "good place." He will say the labor market remains strong with the unemployment rate low. Household spending has been rising at a strong pace, while business fixed investment and exports have been weak. Inflation remains low. Analysts don't expect a firm update on a standing repo facility, but Powell will indicate the Fed's operations have helped stabilize the funding markets after the September jolt. The Fed is likely to maintain its $60 B in monthly bill purchases. However, analysts do believe the Fed will bump up IOER 5 bps to 1.60% in a technical adjustment as the effective funds rate has been trading steadily at 1.55%, just off the lower band. Analysts expect a unanimous 10-0 vote Wednesday. Note that there are four new voting presidents, including Cleveland Fed's Mester, Dallas Fed's Kaplan, Philadelphia Fed's Harker, and Minneapolis Fed's Kashkari. Mester is the most hawkish of the group, with Kashkari an uber dove, while Kaplan and Harker are more centrists.

TODAY'S FREE FLY STORIES

Conference/Events
Goldman Sachs semiconductors analyst to hold an analyst/industry conference call » 18:55
03/30/20
03/30
18:55
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18:55

Semiconductors &…

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Downgrade
Kyushu Electric Power downgraded to Sell from Neutral at Goldman Sachs » 18:48
03/30/20
03/30
18:48
03/30/20
18:48
KYSEY

Kyushu Electric Power

$0.00 /

+ (+0.00%)

Goldman Sachs analyst…

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Hot Stocks
Penske Automotive postpones $150M in capex, freezes hiring » 18:32
03/30/20
03/30
18:32
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18:32
PAG

Penske Automotive

$28.39 /

+0.72 (+2.60%)

The company states:…

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Hot Stocks
Abbott CEO: More tests are coming » 18:27
03/30/20
03/30
18:27
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18:27
ABT

Abbott

$79.36 /

+4.84 (+6.49%)

In an interview on…

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Hot Stocks
Amarin 'strongly disagrees' with ruling in VASCEPA ANDA litigation » 18:26
03/30/20
03/30
18:26
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18:26
AMRN

Amarin

$13.59 /

+0.34 (+2.57%)

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Hot Stocks
John Agwunobi assumes role of Herbalife Nutrition CEO » 18:19
03/30/20
03/30
18:19
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18:19
HLF

Herbalife Nutrition

$28.98 /

-0.59 (-2.00%)

Herbalife Nutrition…

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Periodicals
Spirit Airlines to suspend service at 5 northeast airports, Bloomberg reports » 18:12
03/30/20
03/30
18:12
03/30/20
18:12
SAVE

Spirit Airlines

$12.41 /

-2.29 (-15.58%)

Bloomberg's Justin…

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Periodicals
American Air seeks up to $12B in government aid, Reuters reports » 18:09
03/30/20
03/30
18:09
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18:09
AAL

American Airlines

$12.25 /

-1.79 (-12.75%)

American Airlines plans…

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Hot Stocks
LyondellBasell to slow consruction on PO / RBA project » 18:01
03/30/20
03/30
18:01
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18:01
LYB

LyondellBasell

$49.62 /

+0.32 (+0.65%)

LyondellBasell has…

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Hot Stocks
Hudson Pacific director Robert Harris buys 10K shares of company stock » 17:50
03/30/20
03/30
17:50
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17:50
HPP

Hudson Pacific

$25.28 /

+1.09 (+4.51%)

Hudson Pacific director…

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Periodicals
American Express to avoid layoffs, institutes hiring freeze, Reuters reports » 17:47
03/30/20
03/30
17:47
03/30/20
17:47
AXP

American Express

$90.10 /

+1.5 (+1.69%)

American Express will…

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Hot Stocks
Disney chairman Iger, CEO Chapek to take pay cuts amid COVID-19 pandemic » 17:46
03/30/20
03/30
17:46
03/30/20
17:46
DIS

Disney

$99.84 /

+3.535 (+3.67%)

Disney said in a…

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Hot Stocks
LendingClub reduces approval rates for certain higher-risk borrower populations » 17:44
03/30/20
03/30
17:44
03/30/20
17:44
LC

LendingClub

$8.20 /

-0.25 (-2.96%)

LendingClub said in a…

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Hot Stocks
Honeywell expands N95 face mask production » 17:41
03/30/20
03/30
17:41
03/30/20
17:41
HON

Honeywell

$131.86 /

+0.73 (+0.56%)

Honeywell announced that…

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Initiation
Jacobs initiated with an Outperform at William Blair » 17:40
03/30/20
03/30
17:40
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17:40
J

Jacobs

$78.00 /

+3.03 (+4.04%)

William Blair analyst…

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Initiation
ManTech initiated with an Outperform at William Blair » 17:40
03/30/20
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MANT

ManTech

$75.99 /

+5.16 (+7.29%)

William Blair analyst…

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General News
DC Mayor issues Stay-at-Home order for District of Columbia » 17:40
03/30/20
03/30
17:40
03/30/20
17:40
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$261.57 /

+8.18 (+3.23%)

Washington, DC Mayor…

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Initiation
Leidos initiated with an Outperform at William Blair » 17:39
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17:39
LDOS

Leidos

$93.36 /

-0.055 (-0.06%)

William Blair analyst…

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Initiation
Parsons initiated with an Outperform at William Blair » 17:38
03/30/20
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17:38
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17:38
PSN

Parsons

$32.31 /

-0.94 (-2.83%)

William Blair analyst…

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General News
Maryland Governor issues Stay at Home order, to take effect 8:00 pm ET » 17:38
03/30/20
03/30
17:38
03/30/20
17:38
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$261.57 /

+8.18 (+3.23%)

Maryland Governor Larry…

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General News
Virginia Governor issues Stay at Home order in place until June 10 » 17:37
03/30/20
03/30
17:37
03/30/20
17:37
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$261.57 /

+8.18 (+3.23%)

Virginia Governor Ralph…

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Conference/Events
UBS leisure/travel analyst to hold an analyst/industry conference call » 17:36
03/30/20
03/30
17:36
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17:36

Leisure/Travel Analyst…

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Hot Stocks
Boeing awarded $114.05M Army contract modification » 17:34
03/30/20
03/30
17:34
03/30/20
17:34
BA

Boeing

$152.25 /

-9.755 (-6.02%)

Boeing was awarded a…

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Syndicate
Kingold Jewelry files $30M mixed securities shelf  17:30
03/30/20
03/30
17:30
03/30/20
17:30
KGJI

Kingold Jewelry

$1.04 /

-0.02 (-1.89%)

 
Hot Stocks
Raytheon awarded $146.08M Navy contract » 17:30
03/30/20
03/30
17:30
03/30/20
17:30
RTN

Raytheon

$141.04 /

-0.87 (-0.61%)

Raytheon was awarded a…

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