During a rate-hiking cycle, no change is a good thing for markets.
The Federal Reserve is expected to stand pat at its meeting Wednesday, bowing this time to global volatility from the U.K.'s Brexit vote. The central bank has been on hold since it raised interest rates in December. If history is any guide, the S&P 500 and certain sectors should rise in the next five days if the Fed says "no change" once again.
Using Kensho, a hedge fund analytics tool, we looked at what happened one week after Fed officials left short-term interest rates unchanged during a rate-hiking cycle. Going back to 1994, there have been nine such instances, including four this year.