Market update: FOMC minutes from the July meeting (17 Aug 16)

A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, July 26, and on Wednesday, July 27, 2016.

Stocks finished slightly higher today after the FOMC minutes showed a Fed divided over whether to hike interest rates.

Traders interpreted the minutes from the July 26-27 FOMC meeting to be slightly dovish. The meeting occurred before the release of a slew of U.S. economic data (Q2 GDP, July jobs report, July retail sales, PPI, CPI, industrial production, housing starts, etc.), so the fact that members generally wanted to see more data before hiking rates again is less relevant than it otherwise might be. New York Fed President William Dudley (FOMC voter) will give a press conference on Thursday morning and Fed Chair Yellen speaks at Jackson Hole on August 26.

Nest day, Thur 8/18/16:

SPY daily

SPY weekly