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Oct 29 2014

Long Awaited Fed Meeting

Market Recap:


Investors ignored weaker than forecast Durable Goods orders and a slower rise in home prices and instead focused on corporate earnings and strong consumer sentiment ahead of Wednesday’s Fed minutes release and Chairwoman’s conference. All sectors of the S&P climbed, with Industrials and Energy shares gaining most, while the traditionally defensive Consumer Staples sector lagged with a meager gain of 0.39% on a day when major indexes all gained more than 1%. Commodities were mostly higher, while Treasuries sold off slightly and the U.S. dollar was relatively flat.


Looking Ahead:


The long awaited Fed meeting and minutes are unlikely to reveal anything new to market participants. In our view, barring a surprise announcement by Dr. Yellen, we believe investors will turn their attention to today’s earnings releases by Metlife, Revlon and Visa ahead of tomorrow’s first look at third quarter GDP which is expected to show a rise of 3.6%.


Make sure to tune into Money Matters with Gary Goldberg this Saturday at 5:00 PM and Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic analysis, interviews with some of today’s most respected business leaders, as well as our ongoing market commentary. Visit our website for details.