The "end of Summers rally" continued in the equities today. CPI came in at .1% vs .2% expectations. The markets seem convinced that the doves are flying high at the Fed for now and that could mean a smaller than expected or even delayed tapering call. Oil continued it's three day slide closing down -$1.17. The metals complex was down across the board with some market watchers claiming the low CPI reading gave strength to the no taper argument.
7:30 AM CT
Housing Starts Forecast 905k Prior 896k
Building Permits Forecast 945k Prior 943k
9:30 AM CT
Crude Inventories Forecast -1.2m Prior -219k
1:00 PM CT
FOMC Rate Decision Forecast .25% Prior .25
Today all eyes are on Big Daddy. This afternoon's Fed statement will have a lot of information traders want to see. Does tapering start and if so how much taper are we talkin'? Currently the Fed's buyback program is $85B a month. Trade profitably.