Rate Hike Odds Surge to 70%, Markets Brace for Decision

The odds of a Federal Reserve rate hike have surged to 70% from 50/50 in just one week, and markets are bracing for a potential decision on Wednesday.

JPMorgan has double-upgraded IREN Limited to Overweight with a $65 target price, while GLJ Research initiated GE Vernova with a Sell rating at $470.

Oil prices dropped over 2% for the first time in days, lifting equities across all major indices. Brent Crude closed at $104.80, down 2.64%, and West Texas Intermediate closed at $100.30, down 2.15%.