Market Bracing For Next Week’s FOMC Meeting

Friends

Stocks had a relatively quiet day as volatility, while present, was somewhat muted. Stocks moved into positive territory by the afternoon and were able to extend the gains into the close of trading. On the economic front, the PPI while nothing much to speak of, was a little “hotter” than expected.

As for stocks, by the close the Dow Jones Industrial Average was up 102 points to finish the day at 16,432. The S&P 500 was up 8 points to close at 1961. Gold was down $2 to trade at $1106 per ounce, while oil was down $1.13 to trade at $44.79 per barrel WTI.

Of course, all eyes will turn to the Fed next week as the FOMC meeting starts on Wednesday (instead of Tuesday) and concludes on Thursday. Will the Fed begin the “tightening” process? Are there enough strong economic data points to support lift off?  We will finally find out next week. Stay tuned.

On this the 14th anniversary of 9/11 we never will forget those who perished in the attacks and the brave men and women who gave their lives to save others.

Have a great weekend everyone.

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