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26 Jan 2021 | 17:00

Wednesday preview: Federal Reserve, Apple in focus

(Sharecast News) - Financial markets are likely to be in a holding pattern on Wednesday, as investors wait on the results of the Federal Reserve's policy meeting after the close of trading in London.

The market consensus is for no change in policy but, as ever, more important will be what Fed chief Jerome Powell has to say on the outlook for policy.

Barclays Research expect Powell will re-emphasise that any change in policy "remains well in the future" and that the Federal Open Market Committee is not discussing an 'exit'.

"We also expect the Fed to argue that labor market slack remains elevated and there is plenty of room for the labor force participation rate to rise before labor markets start to run hot," Barclays said.

"This is a view we share and one that underpins our expectation that inflationary pressures will likely remain muted should activity and employment rebound as strongly as we expect in the coming year."

Trading activity is also likely to be restrained ahead of the release of the latest quarterly updates out of Apple and Tesla, both of which are due out after the New York close.

Across the Channel meanwhile, European Central Bank chief economist, Philip Lane, is scheduled to deliver a speech concerning the monetary authority's strategy review, at 1500 GMT.

No major economic releases are scheduled in the UK.

Wednesday 27 January


Hargreaves Services


Crude Oil Inventories (US) (20:45)

Durable Goods Orders (US) (13:30)

GFK Consumer Confidence (GER) (07:00)

MBA Mortgage Applications (US) (12:00)


Redx Pharma


Cairn Homes


AJ Bell, Critical Metals , Lowland Investment Co, Marston's, Renew Holdings, Smiths News


3i Group, Brewin Dolphin Holdings, Tullow Oil
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