All eyes are on the Federal Reserve, as the final Federal Open Market Committee meeting takes place today.
Wall Street Journal
reported that the
Federal Reserve is weighing a more aggressive stance on the slowing economy and may go as far as cutting interest rates today, instead of waiting until January. The
Dow Jones Industrial Average rallied on that news, closing up 210 points to 10,645 on Monday.
Morgan Stanley Dean Witter
release earnings results. Ahead of their releases, Nike closed down 2%, while Morgan Stanley lifted 0.5%.
Expected Earnings Reports
This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial, and may change. The full earnings calendar for this week is published separately.
Forecasts are from
. Times are Eastern. For a longer-term economic calendar and more, see
- 8:30 a.m.:
International trade for October. Source:
Commerce Department. Forecast: -$33.25B. Previous: -$34.26B.
Federal Open Market Committee meeting. Source:
Federal Reserve. The Fed's monetary policymaking committee holds its final meeting of the year in Washington. Any change in monetary policy will be announced at around 2:10 p.m.
BTM-UBSW Weekly Chain Store Sales Index for the week ended Saturday. Source:
Bank of Tokyo-Mitsubishi and UBS Warburg. Forecast: n.a. Previous: -0.3%.
Redbook Retail Average for the month through Saturday, vs. November. Source:
LJR Redbook. Forecast: n.a. Previous: unchgd.
Housing Market Index for December. Source:
National Association of Home Builders. Forecast: n.a. Previous: 65.