The following is an excerpt from Wallace Witkowski | December 13, 2015 | MarketWatch.com |
For about a decade there hasn’t been a new Star Wars movie or a Federal Reserve rate hike, and both are expected to drop this week. And while fanboys will be transfixed on “The Force Awakens,” investor attention will be firmly fixed on “The Fed Awakens.”
The highly anticipated December Federal Open Market Committee meeting comes on the heels of a fresh spike in volatility and falling oil prices. Last week, the Dow Jones Industrial Average DJIA, -1.76% dropped 3.3%, the S&P 500 index SPX, -1.94% fell 3.8%, and the Nasdaq Composite Index COMP, -2.21% shed 4.1%.
On Wednesday, the Fed will end its two-day policy meeting where the central bank is widely expected to raise interest rates for the first time since 2006, and Fed watchers are already trying to anticipate the rate of increases over 2016.
While the Fed meeting will be the centerpiece this week, investors will still be keeping a sharp eye on the falling price of oil and market volatility, according to Jeff Carbone, managing director and co-founder of Cornerstone Financial Partners.
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