Equities and foreign exchange markets have shifted from Fed watch to Fed vigil as they await the outcome of this week's Federal Reserve Open Market Committee meeting. And they will have to wait an extra day because the FOMC will be meeting two days - on Tuesday and Wednesday - as they do twice a year. The Fed is expected to cut rates again, although opinion is split on whether it will be by 25 or 50 basis points. A cut might once again boost confidence and put a floor under stock prices. Most overseas markets will be closed when the announcement is made Wednesday afternoon, so there won't be too much action until Thursday. This week is also the calm before the deluge of sentiment and purchasing managers survey results that rain down during the first week of a new month. So the markets will be waiting.

Introduction   •   Global Stock Market Indexes   •   Recap of Global Markets   •   Currencies   •  Indicator Scoreboard

The Bottom Line   •   Looking Ahead