By Barbara Kollmeyer
Expect Apple to grab plenty of attention this morning. Shares are down 2% in premarket, after EU officials told Ireland to send the iPhone maker a $14.5 billion demand for taxes it sidestepped under a deal with the Emerald Isles. And it seems Apple isn’t the only one potentially in the muck.
But far and away from tax blues, for you Fed junkies, your fix is in. Fed Vice Chairman Stanley Fischer said in an interview this morning that you can’t say “one and done” when it comes to U.S. interest rates, and that hikes will depend on the data.
Stocks are so far not showing too much reaction, so another win for Wall Street Tuesday is up in the air. But the word Monday was that the market is warming up and getting used to the idea of a rate increase.
Investors are saying, “‘if my bonds are doing OK, maybe I can have more money go toward stocks, even if stocks seem frothy,’” Winans Investment’s president, Ken Winans, told MarketWatch.
That crashes nicely into our call of the day, which says investors should just stop getting sucked into faux hawkishness from the Fed. That means keep buying one particular asset, say Morgan Stanley analysts.
“While we understand the fear of rising rates, we also understand the opportunity it presents to investors with cooler heads,” they say. Read below for more.
Our chart of the day looks at the relationship between gold and central-bank balance sheets, which could mean the precious metal isn't priced nearly as high as it should be.