Next 24 Hours: Markets Hold Breath For Apple And FOMC
The markets are floating around the flat line. All eyes are focused on the after market earnings release from Apple Inc. (NASDAQ:AAPL) and the FOMC policy statement scheduled for Wednesday. This is keeping investors very nervous as worries of an iPhone sales miss is looming large. In addition, the markets are looking for Ben Bernanke to give a hint at future quantitative easing once again. The Wall Street thought process is that more problems in Europe and weaker U.S. economic data might push Bernanke into saying QE3 is a possibility again.
The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $137.19 +0.40 (+0.29%). Tomorrow will likely be a major up or down day as Apple earnings will be revealed and comments from the Federal Reserve will be given. Be ready for a wild ride.