Markets Await Heavy Data, FOMC Meeting Begins

An extremely busy day awaits markets as the Federal Open Market Committee kicks off its last two-day meeting of the decade.

Two hours before the opening bell investors are being cautious. The S&P 500 hit 14-month highs yesterday but this morning futures are off 3.00 points to 1,108. Similarly, Dow futures are down 25 points to 10,412 and Spot Gold is $12.25 lower at $1,114.45. 

Somewhat conversely, WTI Crude oil is up a slight 14 cents to $69.65 per barrel, yet that’s 15% off its highs from late October.

“The US$ is stronger against most of the majors, particularly the euro which continues to struggle amid financial-sector problems in Austria and concerns over the fiscal situation in Greece,” noted BMO analyst Robert Kavcic. 

Key Events Today:

8:30 â€