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Oct 28 2014

Expect a Relatively Muted Session

Market Recap:


It was a wait and see day on Wall Street as market participants mostly stayed on the sidelines ahead of earnings reports and this week’s key FOMC meeting where the Fed is expected to announce an end to QE (Quantitative Easing). Stocks were little changed on Monday as the economically sensitive Energy and Materials sectors fell by roughly 2% each, while Telecom shares rose more than 1%. Earnings releases and economic data were mostly in line with expectations.

Looking Ahead:


The two-day FOMC meeting kicks off on Tuesday morning and will conclude with the Chairwoman’s press conference on Wednesday afternoon. Barring a significant divergence from expectations in upcoming economic data, investors should expect a relatively muted session through Wednesday. On Thursday investors will get their first look at third quarter GDP figures, which is expected to have grown by 3.2%. Moreover, inflation data and European manufacturing data are likely to impact market action for the remainder of the week. Generally speaking we anticipate continued market volatility through early November when elections and the earnings season is behind us.


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