The stock market could soar 10% on Wednesday in the unlikely event that the Fed hikes rates by only 50 basis points, JPMorgan says

The S&P 500 could soar 10% on Wednesday if the Fed Chairman Jerome Powell turns dovish, according to JPMorgan. The bank said the potential head-spinning rally could happen if the Fed hikes rates by 50 basis points rather than the expected 75. “This is the least likely and the most bullish,” JPMorgan’s trading desk said…