Market Lab Report - Premarket Pulse 8/28/15
The US economy grew at a faster 3.7% annual pace in the second quarter, up from the initial estimate of 2.3%. Oil soared 10%, its largest gain since 2009. The Fed may now have more room to hike rates at its next meeting, but the global economy remains in a quagmire with the recent global turmoil in China's markets, thus the Fed may postpone the hike. Indeed, futures telegraph the probability of a rate hike in September at just 24%, down from 51% a few weeks ago. Expect a continuation of elevated volatility in the near term.
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