Pre Market

The markets in Asia are up and the Shanghai composite has crossed the 4,000 mark.
The European markets are mixed.

The FOMC announcement at 2:15pm ET is the main event in todays economic calendar.

Stocks In Play

Earnings Announcements

TFSM TOL WFMI TM TKC TK PEIX NWS LM ID JUPM FTO & BORL are some of the companies reporting ernings today.

Cisco reports a 34% jump in profit but shares decline as investors had already run this stock up in the days leading to earnings.

Rio Tinto shares rise on speculation of a buyout by BHP Billiton. A merger appears to make economic sense though whether it occurs is anyones guess.

Economists are dim about US economic growth prospect. Does not look like the market cares. With strong overseas growth should they care ?

The futures pre market suggest a lower open. Will it be another buy the dip type of day or will the Fed announcement cause a sell off ?