What's moving markets today: Live updates - CNN

US markets are being driven higher by hopes that the Federal Reserve will cut interest rates sooner rather than later. But be prepared for the chance that the central bank could disappoint, according to Lindsey Bell, CFRA Research Investment Strategist.

Investors will hang on every word at Fed Chairman Jerome Powell's press conference following next week's policy meeting. Investors don't think it's too likely the Fed will cut rates this time, but expectations for a rate cut at next month's meeting are above 80%, according to the CME FedWatch tool.

"The options are vast, but the market is pricing in a rate cut this year," Bell told CNN's Julia Chatterley on the Markets Now live show.

But Bell said "there is a high likelihood for Powell to disappoint." She doesn't expect a rate cut at all this year. The US economy is strong enough as is, and consumer confidence is at a healthy level.

Bell also expects there could be more market volatility to come.

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https://www.cnn.com/business/live-news/stock-market-news-today-061219/index.html

2019-06-12 17:20:00Z
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