Tomorrow's Headliners: Fed Decision

The public's ears will perk up Wednesday afternoon when the Federal Reserve issues its statement on interest rates, but traders have plenty to contend with ahead of the decision.

The Federal Open Market Committee will give its decision at 2:15 p.m. EDT Wednesday, although economists do not expect the policy-making arm of the Fed to change the fed funds rate. Instead, the wording of the central bank's statement will be more scrutinized.

Ahead of that deadline, though, investors will have a handful of economic reports to sift through. Before the start of trading, the Census Bureau will release May data on durable goods orders, which are expected to fall 0.9% after a 1.9% increase in April. Excluding transportation, durable goods orders are expected to have declined by only 0.5% last month. ...