Central bank actions continue to drive the markets. Last week, relatively light data and earnings were overshadowed by both the G20 meeting and the interest rate decisions from the European Central Bank, which led to a mixed market that trended slightly lower. This week will be all about the Fed’s pending meeting and how it’ll respond to low rates here at home.
While the Fed won’t actually meet this week, there is a torrent of data being released that plays directly into the Fed’s decision-making process, including measures of inflation, retail sales, consumer sentiment, manufacturing and housing data. You name it, it’ll be released this week. And given this is the last real hurrah before the Fed meets, the numbers will be very important.