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together (RSS) Federal Reserve, PLUG, Uber, St. Patrick's Day: 5 Things You Must...

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Federal Reserve, PLUG, Uber, St. Patrick's Day: 5 Things You Must Know

Investors await the Federal Reserve's assessment of the U.S. economy; Plug Power plunges after accounting errors; Uber to classify its U.K. drivers as full-time employees; the St. Patrick's Day Parade in New York largely will be virtual.Here are five things you must know for Wednesday, March 17:1. -- Stock Futures Fall as Wall Street Awaits the FedStock futures fell modestly as investors awaited the Federal Reserve's assessment Wednesday of a U.S. economy slowly recovering from the coronavirus pandemic.Contracts linked to the Dow Jones Industrial Average fell 10 points, S&P 500 futures fell 2 points and futures on the tech-heavy Nasdaq declined 25 points. The central bank will announce a decision on interest rates later Wednesday, followed by a press conference from Federal Reserve Chairman Jerome Powell, who is expected by economists to indicate the Fed will tolerate higher inflation to get the U.S. back to full employment.Bond yields have pushed higher recently on rising inflation expectations and have sparked a rotation to value stocks from high-growth equities, particularly technology shares. The 10-year Treasury yield hovered around 1.63% early Wednesday. The Fed previously has said it won't raise rates until 2023 at the earliest since it expects inflation will remain at or below the central bank's 2% target through that year."Has the Fed started thinking about thinking about raising short-term interest rates?" asked Ryan Detrick, chief market strategist for LPL Financial."Back in June 2020, Chairman Powell famously quipped, 'We’re not even thinking about thinking about raising rates' in an effort to reassure markets that the low interest rate environment was here for some time. While we don’t expect the Fed to announce plans to raise rates anytime soon, the market has started pricing in an earlier liftoff (early 2023) than the Fed has communicated. "It will be interesting to see if the Fed pushes back against these market expectations," Detrick added.Fed Preview: Jim Cramer Explains the Part Oil Plays in Inflation FearsStocks ended mostly lower Tuesday and the S&P 500's winning streak of five sessions came to an end as investors awaited the Fed's projections on the U.S. economy. The Dow ended a seven-day streak of gains.2. -- Wednesday's Calendar: Federal Reserve Meeting and Williams-Sonoma EarningsThe U.S. economic calendar for Wednesday includes an announcement on interest rates from the Federal Reserve at 2 p.m. ET and a press conference from Federal Reserve Chairman Jerome Powell at 2:30 p.m.The calendar also includes Housing Starts and Permits for February at 8:30 a.m. and Oil Inventories for the week ended March 12 at 10:30 a.m.Earnings reports are expected Wednesday from Williams-Sonoma (WSM) - Get Report, Five Below (FIVE) - Get Report, Lands' End (LE) -...

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Federal Reserve, PLUG, Uber, St. Patrick's Day: 5 Things You Must Know

Investors await the Federal Reserve's assessment of the U.S. economy; Plug Power plunges after accounting errors; Uber to classify its U.K. drivers as full-time employees;…

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