Market attention fixed squarely on Fed
David Russell | [email protected]
The central bank will announce monetary policy at 2 p.m. ET, followed by a press conference. The main question is whether the pace of asset purchases will be slowed, though it isn't clear how much of a reduction is currently priced into stocks.
Two minor weekly reports are scheduled for earlier in the session: mortgage-loan applications at 7 a.m. ET. and crude-oil inventories at 10:30 a.m. ET.
It's also the busiest day of the week for corporate earnings, with FedEx, Finisar, Jabil Circuit and Redhat all scheduled to release numbers.
The calendar remains active tomorrow, featuring purchasing-managers data in Europe, initial jobless claims, and existing home sales. Facebook is also scheduled to announce a new product.