(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) NYSE insider Jay Woods says that in light of the ongoing government shutdown, traders will be paying special attention to what Federal Reserve Chair Jerome Powell says at the U.S. central bank’s meeting this week. Powell’s comments carry special weight as the ongoing government shutdown — which is close to being the longest one in American history — has halted the tracking of government data. While a quarter-point percentage rate cut is already “baked in,” Woods says that Powell’s comments could set the near-term tone by keeping traders “from getting a little jittery.” (Watch full video above.) Woods, the chief market strategist at Freedom Capital Markets, also touches on the following in the exclusive video: How traders are bracing for a volatile week of headlines coming from the meeting in Asia between President Donald Trump and Chinese leader Xi Jinping. If the five “Magnificent Seven” stocks reporting earnings this week can gain their momentum back, or keep the ball rolling. Three key stocks with earnings this week: UPS , UnitedHealth and Visa . The trader remarks that Visa is forming a “coiling” pattern on the chart and will “break one way or the other” either to the upside or downside. (This weekly Monday video is exclusively for CNBC PRO subscribers.)
Stock market rally may hinge on what Powell says after Fed rate decision Wednesday
