The main event of the week for the US, is the FED monetary policy decision and press conference. While the rate statement will influence, the press conference will likely be the key driver.
We await any new clues on how much the central bank will raise interest rates this year and when it will start. Economists expect the Fed to steer markets to a quarter-percentage-point March rate hike.
There is also an avalanche of major earnings reports expected, including nearly half the Dow 30′s blue chips, such as 3M, IBM, Intel, Caterpillar and American Express. The two biggest stocks in terms of market capitalization, Microsoft and Apple, report Tuesday and Thursday respectively. Tesla reports Wednesday.
The economy will also be a focus with a first look at fourth-quarter GDP on Thursday, and Friday’s personal consumption expenditures data, which includes the Fed’s preferred inflation measure.
Stocks could be in for more volatile trading, after a wild week of seesaw action resulted in steep declines in major indexes. The weakest major sectors for the week were consumer discretionary, off 8.5%, followed by communication services and technology, both lower by about 7%.
European stocks are expected to open lower on Monday as investors brace themselves for the next meeting of the U.S. Federal Reserve this coming week and watch for developments in Ukraine as tensions with Russia grow.
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