FOMC-day is usually a good one for risk assets

The FOMC day effect on the stock maret

The Fed put is real.
US equity futures have turned slight higher now and that aligns them with a dovish trade that’s clear in the dollar, rates and gold.
Historically, that’s a good bet.
Study after study shows that Fed day is one of the best ones for stock markets of the year. Back in 2016, Bespoke Investment Group tallied that since 1995 the average return of the S&P 500 on FOMC day is +0.34% compared to +0.03% on the average day otherwise.
The FOMC day effect on the stock maret
Longer-term studies show the same effect (and here).
Could today be the day that Powell takes away the punchbowl? It’s certainly possible but all these studies show that the jitters are always high and the reality is generally positive.