It’s the Big Day!

In this buzz:❗Watch for FOMC meeting at 1:00pm CDT; Exxon Again; Colossal Biosciences and restoring The Lost World; and more…

It’s Fed Day…
… and all over the land, the question isn’t “how much will the Fed raise rates?”, as it is “what will happen after they do?”. With 25 basis points baked in for this meeting and the next, investors are more concerned about what the Fed will do after that. There’s also much concern about how the markets will react following today’s meeting:

• Does Wall Street have it wrong and
• will today be a buy the rumor, sell the fact day or
• are we in an equity bull market and one should buy the dip?

Time will tell.

The Lost World:
In other news, Colossal Biosciences raised $150 million at a $1.5 billion valuation with plans to resurrect the dodo, a bird that went extinct in the 1600s. The company apparently would also like to bring back the wooly mammoth and the Tasmanian tiger. What could possibly go wrong? Just when I though an NFT of a smoking ape fetching hundreds of thousands of dollars was the dumbest thing I would ever see.

Exxon:
Meanwhile Exxon posted the largest profit of any western oil company in history so yay for them. Thanks to high energy prices, they made $56 billion last year.

Speaking of billions,
… India’s Adani lost $92 of them as his meltdown continues. It also cost him his spot as Indian’s richest man. He has a way to go to catch Elon, the first person in history to drop $200 billion but if collateral concerns continue, he just might make it. This is going to be a great Netflix series!