Janet Yellen and economic data are poised to steal the business spotlight from Corporate America this week.
After a bonanza of corporate report cards dominated recent headlines, investors will likely refocus on the state of the U.S. economy and the Federal Reserve’s delicate dance to curtail its stimulus measures without roiling markets.
They will be looking for positive news to turn things around after the market downturn last week and a lot of choppy trading so far this year.
The early attention will clearly be on the Fed, which is widely expected to dial back its bond-buying exercise by another $10 billion following a two-day meeting that concludes on Wednesday.
Investors will sift through the central bank’s policy statement for clues on when Yellen and Co. might embark on their first interest rate hike, a thought that has spooked some on Wall Street.
The Fed may also hint at whether it believes the recent uptick in economic data will persist. A brightened outlook could signal the central bank will continue, if not accelerate, its exit of quantitative easing.
