Why Tomorrow Could Be a Huge Day for the Stock Market
One of, if not the biggest near-term focuses of the market is whether or not the Federal Reserve will raise its benchmark overnight lending rate, the federal funds rate, at the Fed's next meeting on June 13-14.
Right now, it is unclear what the Fed will do. A few weeks ago, most investors thought the Fed might be done with its aggressive interest rate hiking campaign, which has raised the federal funds rate from zero to now over 5% in just a little over a year. But now most investors seem to think another rate hike could be coming at the Fed's June meeting.
Still, the Fed's next move will likely be influenced by upcoming economic data, and one of those key data points will be released tomorrow. It could be a huge day for the stock market. Here's why.
Source Fool.com
