Daily Delphi

Post: Monday - Markets looking forward to Fed decision. | Daily Delphi

BlogsPit Talk › Monday - Markets looking forward to Fed decision. December 16, 2013, 6:50 am

TODAY'S ACTION
7:30 AM CT
Empire Manufacturing Forecast 5.0 Prior -2.2
Productivity Q3 - Rev Forecast 2.5% Prior 1.9%
8:00 AM CT
Net Long Term TIC Flows Prior $25.5B
9:15 AM CT
Capacity Utilization Forecast 0.4% Prior -0.1%
Industrial Production Forecast 78.3% Prior 78.1%

Today traders have some data to look at before the Fed's final meeting of the year begins tomorrow. For the past two weeks the markets have quietly been pricing in a winding down of Big Daddy's easing policy. Tomorrow the Senate is also expected to vote on and narrowly pass the House budget bill. With all of the recent positive economic data and good will in DC it seems that traders believe that Big Daddy is likely to call last call this week. Trade wisely

FRIDAY'S ACTION

The December S&P posted a loss for the second consecutive week and had the biggest weekly drop since August. As bad as that may sound it was a flat and forgettable week. The S&P contract finished down -0.18 at 1775.32. The uneventful finish leaves the S&P December loss at 1.7%. Of note last week, the House of Representatives passed a budget that limits automatic spending cuts and avoids another government shutdown.


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