Another rather dull session for US stocks, which is remarkable for a FOMC statement/rate-decision day.
No surprises in the committee’s communique, which draws a detached, reserved response from US stocks. Major indexes track within a tight range during the session, and Dow Industrials eventually sink slightly into the red as the US dollar index strengthened.
Overall, anti-climactic, as these Fed days often are. Health care, consumer staples, industrials and utilities decline, while materials, financials and energy stocks gain.
DJIA dips 10.88 to 10441.12, and Nasdaq Comp rises 5.86 to 2206.91. S&P 500 ends 1.25 higher at 1109.18.
Kind of a letdown that we didn’t get a dissent in the FOMC’s vote on the policy action — it might’ve added some flair to an otherwise sleepy session, at least.
Tomorrow we’ll see weekly jobless claims (keep an eye on the emergency unemployment benefit claims reported by states) ; Philly Fed’s December manufacturing index (think yesterday’s Empire State) and Conference Board’s November LEI.
FedEx, Oracle and Research In Motion all report results tomorrow, too.