Tomorrow's Headliners: FOMC

The eighth and last Federal Open Market Committee meeting of the year will finally take place Tuesday, and for most traders, everything else will be secondary.

The Fed's announcement on rates will be out around 2:15 p.m. EST, and the majority of market watchers are looking for a cut in the fed funds target rate of at least 25 basis points from 4.50%, but some want to see 50. Rates have been reduced at each of the past two meetings.

Otherwise, the economic calendar is practically bare, with only data on wholesale inventories for October due.

Meanwhile, a number of companies, including GE (GE Quote), Hewlett-Packard (HPQ Quote), AT&T (T Quote) and Merck (MRK Quote), will be holding gatherings for investors and analysts.

The earnings calendar is light. Among those scheduled to report are Kroger (KR Quote), ABM Industries (ABM Quote) and Cooper (COO Quote).

On TheStreet.com, personal finance expert Jeffrey Strain has 10 gift ideas that will actually help the recipient save money, and Nicholas Yulico will explain what Toll Brothers (TOL Quote) stands to lose from a development setback in Arizona.