With the Fed out of the way, this is what could move the markets into year-end. Here's the latest from BobPisani:
With the Federal Reserve out of the way, and major economic news light , traders are bracing for a wave of earnings reductions from the analysts community ahead of fourth quarter earnings. That's because the narrative has shifted from trying to figure out the extent of inflation to trying to figure out the extent of a recession .
Autozone and Oracle came in above expectations. Adobe beat and gave decent guidance. Lennar was complicated, but traded up. Costco did miss on earnings and membership. We'll hear from General Mills, FedEx, and Nike on Tuesday, Carnival and Micron on Wednesday. The "we are going to retest the October low" crowd was very vocal last week, but it's not clear where a bottom should be.
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