Market Lab Report - Premarket Pulse 6/17/15
The Fed concludes its two-day meeting today at 2pm EDT. The CME Group FedWatch shows futures traders pricing in a 0% probability of a rate hike Wednesday, a 5% chance at the July meeting, a 26% chance at the September meeting, and a 46% chance at the October meeting. Nevertheless, should the economy lack vital signs, the 46% chance at the October meeting would naturally diminish substantially.
Cloud-based human capital management software company Paycom Software (PAYC) had a pocket pivot yesterday. Earnings are soaring, sales are strongly accelerating, ROE 24%, group rank 36.
Website hosting company GoDaddy.com (GDDY) had a pocket pivot. Earnings are still negative and expected to stay negative for several more quarters, though the company is the leader in its space. Group rank 28.
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