Off the Charts
Today's Federal Reserve rate decision triggered an initial push lower, after the FOMC opted to leave rates unchanged until 2014 but fell short of initiating QE3. However, losses were contained and it was another quiet day as investors waited anxiously for tomorrow's European Central Bank decision. The S&P 500 and the Dow both closed the day down about 0.20%, while the Nasdaq closed down 0.66%.
All eyes will be on the ECB meeting tomorrow. Decisions start getting released around 7:45 a.m. EDT and will trickle in as the morning wears on. Last week, the market rallied on expectations for Fed and ECB action. Today, we saw no action from the Fed, which is not surprising considering the market is on multimonth highs. Will ECB President Mario Draghi live true to his words from last week, saying his office will do "whatever it takes" to keep the European Union together?...699 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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