MarketBeat Minute
769 episodes - English - Latest episode: 4 months ago - ★★★★★ - 3 ratingsA daily recap of the stock market news by the MarketBeat editorial staff. Each market day you'll get a one-minute market summary to help you invest wisely.
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Episodes
MarketBeat Minute(2024-01-05)
January 05, 2024 14:00 - 1 minute - 721 KBEquity markets tried to rebound on Thursday, but the move was weak and short-lived. The S&P 500 gained about a half percent at the session's high but closed the day with a loss of 0.35%. The move may turn into a deeper rout today following the NFP report. If it aligns with labor data released this week, it will reaffirm the idea that the FOMC will keep interest rates higher for longer. In this scenario, the FOMC is on track to cut rates in 2023, but when and why are yet to be seen. As it is, ...
MarketBeat Minute(2024-01-04)
January 04, 2024 14:00 - 1 minute - 721 KBEquity markets fell for the 2nd trading day in January, marking the start of what could become a significant contraction for the S&P 500. The index shows signs of topping below critical resistance with a growing consensus that January will be a hard month for mega-cap stocks. Names from Apple to Amazon are moving lower as investors shed holdings in overcrowded names to raise capital. The thought is that a rut in the first half will quickly lead to a market bottom and the next great entry poin...
MarketBeat Minute(2024-01-03)
January 03, 2024 14:00 - 1 minute - 721 KBEquity markets kicked off the 2024 trading year on a sour note, with the S&P 500 falling about 1% at the session low. The move is partly due to a downgrade for Apple that shaved more than 4.25% off of its price. Barclays downgraded the stock to Underweight, citing concerns about hardware sales centered on the iPhone. At the same time, the VIX advanced to show a bottom and a high potential for a market reversal. The combination of weak S&P action and rising VIX suggests a top has been hit for ...
MarketBeat Minute(2024-01-02)
January 02, 2024 14:00 - 1 minute - 721 KBIt's the first trading week of the New Year, and all eyes will be on the data. The monthly labor market data is due over the week and may lead the market to a new high. Solid employment and wage gains will help clear the path to a soft landing, allowing the FOMC to start cutting rates early in the year. As it is, the market expects the first cuts by March. Earnings season begins next week with reports from the big banks. The banks will likely report robust gains driven by high interest rate...
MarketBeat Minute(2024-01-01)
January 01, 2024 14:00 - 1 minute - 721 KBEquities advanced on Thursday, extending the week's Santa Claus Rally to about 0.75%. The rally may continue on Friday, but it looks unlikely we'll see a new all-time high on the S&P 500 until next year. As robust as the outlook is for 2024, there are concerns that earnings growth will not be as good as forecasted and that the FOMC may tip the economy into recession. Because it takes 12 months or longer for FOMC policy changes to take full effect, the impact of rate hikes in the first half of...
MarketBeat Minute(2023-12-29)
December 29, 2023 14:00 - 1 minute - 721 KBEquities advanced on Thursday, extending the week's Santa Claus Rally to about 0.75%. The rally may continue on Friday, but it looks unlikely we'll see a new all-time high on the S&P 500 until next year. As robust as the outlook is for 2024, there are concerns that earnings growth will not be as good as forecasted and that the FOMC may tip the economy into recession. Because it takes 12 months or longer for FOMC policy changes to take full effect, the impact of rate hikes in the first half of...
MarketBeat Minute(2023-12-28)
December 28, 2023 14:00 - 1 minute - 721 KBEquity markets hovered near break even on Wednesday as investors weighed the possibilities for 2024. Among them is a rally. The outlook for earnings is growth with sequential acceleration throughout the year. Another is a recession. The FOMC policy is restrictive and yet to be fully seen in the data. The odds are high that consumer spending will be weak in the first half and may lead to a recession. This sets the market up to advance, provided the Q1 reporting season is good, or to fall if it...
MarketBeat Minute(2023-12-27)
December 27, 2023 14:00 - 1 minute - 721 KBEquity markets advanced on Tuesday in a day of light holiday week trading. The S&P 500 gained less than a percentage point but set a new two-year high and is on the way to retesting the all-time high soon. Equities will likely move higher this week in a Santa Claus Rally and could set a new all-time high before the New Year. This week's action will be characterized by low volume. Traders and investors are taking a break, waiting to see what happens with the New Year, inflation and the Fed. ...
MarketBeat Minute(2023-12-26)
December 26, 2023 14:00 - 1 minute - 721 KBEquity markets closed out the week with a gain, making the 8th consecutive weekly increase for the S&P 500. The hope for FOMC rate cuts early in 2024 has driven the move, and this week's PCE price index aligned with the outlook. The index came in at 3.1%, slightly cooler than expected, suggesting the Fed's soft landing is fast approaching. The question is if the economy will hit the ground running or crash through, and either scenario is unfavorable to equities. On the one hand, disinflatio...
MarketBeat Minute(2023-12-25)
December 25, 2023 14:00 - 1 minute - 721 KBEquity markets tried to rebound from Wednesday's unexpected selloff on Thursday but failed to regain the prior days' losses. The S&P gained 1% for the day but closed well off the highs for the week. The weekly pattern suggests a rising level of fear ahead of the PCE report, due out Friday. The PCE report is expected to confirm slowing inflation but at an insufficient pace to allow the FOMC to cut interest rates soon. The S&P 500 price action shows resistance below the all-time high, a criti...
MarketBeat Minute(2023-12-22)
December 22, 2023 14:00 - 1 minute - 721 KBEquity markets tried to rebound from Wednesday's unexpected selloff on Thursday but failed to regain the prior days' losses. The S&P gained 1% for the day but closed well off the highs for the week. The weekly pattern suggests a rising level of fear ahead of the PCE report, due out Friday. The PCE report is expected to confirm slowing inflation but at an insufficient pace to allow the FOMC to cut interest rates soon. The S&P 500 price action shows resistance below the all-time high, a criti...
MarketBeat Minute(2023-12-21)
December 21, 2023 14:00 - 1 minute - 721 KBEquity markets reversed course on Wednesday, ending a steady string of advances with a 1.5% decline. The move was driven by fear the Fed would not cut rates early in 2024 but would hold off until mid-year or later. The latest CPI report showed inflation cooler than before but holding steady near double the FOMC 2.0% target, a level inconsistent with the idea of interest rate cuts. The November PCE Index is due on Friday and may confirm stabilizing inflation at a higher-than-normal rate, a sce...
MarketBeat Minute(2023-12-20)
December 20, 2023 14:00 - 1 minute - 721 KBEquity markets extended their rebound another day, lifting the S&P 500 by 0.5% on Tuesday. The move was driven by intensifying hope that the FOMC would cut interest rates soon, a hope that may take the broad market index to a new high. The index is on track to hit and exceed the all-time before the end of the year and could produce a solid Santa Claus Rally next week. The caveat for investors and traders is that the FOMC may not cut rates as quickly as hoped, and data that could alter the out...
MarketBeat Minute(2023-12-19)
December 19, 2023 14:00 - 1 minute - 721 KBEquity markets advanced on Monday, setting the S&P 500 up for an 8th consecutive week of gains. The move took the index up about 0.75% at the session's high to set a new multi-year high just shy of the current all-time high. Because the market continues to show resilience and momentum in the face of high interest rates and inflation, it should be expected to continue higher. The question is what the market will do once the all-time high is reached. The primary market-moving event for the we...
MarketBeat Minute(2023-12-18)
December 18, 2023 14:00 - 1 minute - 721 KBEquity markets advanced following as-expected inflation data and a shift in Fed policy. The Fed indicated rate cuts are likely in 2024, marking the top of the rate hiking cycle. The bad news is that inflation continues to run hot so higher-than-normal interest rates will persist for some time. Even with the 75 basis points of cuts indicated, the market will end the year with rates at 4.5% or higher and double the rate going into the COVID-19 pandemic. The S&P 500 is moving higher, and a San...
MarketBeat Minute(2023-12-15)
December 15, 2023 14:00 - 1 minute - 721 KBEquity markets were relatively unchanged on Thursday as traders digested the previous day's news. The shift in FOMC policy is promising but may not be the great news equity markets seek. While the Fed has signaled the peak of interest rates and oncoming cuts, the news is already spurring demand for homes and energy, raising the possibility inflation will accelerate again. The rate on the 10-year treasury fell to the lowest level since July during the session, indicating a significant decline ...
MarketBeat Minute(2023-12-14)
December 14, 2023 14:00 - 1 minute - 721 KBEquity markets cheered the FOMC's latest policy shift but should not be sanguine. The Fed's shift is likely short-lived, given the impact of the news on oil and equity markets. The Fed signaled at least three quarter-point interest rate cuts in 2024, clearing the runway for oil and risk-on asset demand. In this environment, inflation could easily accelerate, leading the FOMC to revert to its tighter stance. The S&P 500 gained more than 1.25% at the height of the session as investors loaded ...
MarketBeat Minute(2023-12-13)
December 13, 2023 14:00 - 1 minute - 721 KBEquity markets continue to diverge from oil prices, with the S&P 500 moving up to set another new high for the year and oil prices falling to the lowest in months. The moves were driven by an as-expected CPI report, which has equity traders hoping for the first interest rate cuts to come soon and oil markets scared higher-for-longer will impact demand and lead to recession. The takeaway is that enough uncertainty remains for either outcome to be accurate; the question now is which market has ...
MarketBeat Minute(2023-12-12)
December 12, 2023 14:00 - 1 minute - 721 KBEquity markets advanced on Tuesday, driven by hope for cooling inflation and news from the retail sector. Private equity firms have made a joint offer to take mall-based Macy's private. The deal alleges the stock is deeply undervalued, highlighting value across the industry. Names like Kohl's and Abercrombie & Fitch also advanced on the news gaining mid to high-single digits for the day. Today's market-moving event will be the CPI index. The index is expected to reveal that core inflation i...
MarketBeat Minute(2023-12-11)
December 11, 2023 14:00 - 1 minute - 721 KBEquity markets advanced in the preceding week but may not get much higher. The S&P 500 is facing stiff resistance near 4,610, and multiple catalysts due this week could dampen appetite for stocks. Among them are the CPI inflation data, the FOMC policy decision and the November retail sales. Because inflation is expected to run hot again, the FOMC is unlikely to alter its stance on interest rates. The retail sales figure may also be disappointing, given the impact on spending that higher price...
MarketBeat Minute(2023-12-08)
December 08, 2023 14:00 - 1 minute - 721 KBEquity markets rebounded on Thursday on hopes that labor data would be a Cinderella story. The data can not be too hot or cold or may raise fears of higher interest rates for longer or looming recession, depending on which way the wind blows. In either case, the outcome for the S&P 500 will be tepid earnings growth in 2024. The S&P 500 advanced 0.75% at the session's peak and remains within a tight range at critical resistance. Next week will be a hot one for traders. The economic calendar ...
MarketBeat Minute(2023-12-07)
December 07, 2023 14:00 - 1 minute - 721 KBEquity markets tried to rebound on Wednesday but stumbled after getting what they wanted: soft labor data. While the ADP and JOLTs figures suggest softening in the labor market and may lead the FOMC to cut rates sooner than expected, there is a downside that should be considered. Slowing labor market growth and business spending will impact GDP in 2024 and may lead the economy into recession. The odds of a soft landing have grown in recent months, but investors should not be sanguine, the Fed...
MarketBeat Minute(2023-12-06)
December 06, 2023 14:00 - 1 minute - 721 KBEquity markets continue to trend within a tight range below critical resistance. At the same time, good news continues to emerge but it is more of a sell-the-news event because the news is centered on weakening economic data. A softer than expected JOLT figures suggest a pullback in business spending and hiring that will aid a reduction in inflation. The bad news is that reduced business spending and hiring will also result in soft GDP growth and a weaker consumer. The S&P 500 is hovering a...
MarketBeat Minute(2023-12-05)
December 05, 2023 14:00 - 1 minute - 721 KBEquity markets pulled back on Monday to potentially end 5 straight weeks of historic market gains. The S&P 500 rose more than 12% in that time to set a new high for the year but may not be able to move much higher. The market is still trading within a significant range, and there is little reason to think it can continue to rally. While the peak of the Fed's interest rate cycle is near, there is still much uncertainty in the 2024 outlook, and the consensus figures for earnings growth continue...
MarketBeat Minute(2023-12-04)
December 04, 2023 14:00 - 1 minute - 721 KBEquity markets advanced last week, but the top to this rally is closer than ever. The bulk of the week's movement occurred on Friday, which is a generally bullish signal but met resistance near recent highs. The technical picture suggests the market hit the ceiling and stands to correct any day and maybe spurred to sell off this week. This week brings the latest labor market data, which is expected to align with labor market health and wage inflation. The risk for markets is oil. Oil has be...
MarketBeat Minute(2023-12-01)
December 01, 2023 14:00 - 1 minute - 721 KBEquity markets continue to tread water near critical resistance. Thursday's action was driven by an as-expected read on consumer inflation that reinforces the idea the FOMC will start cutting interest rates soon. The risk is that rapidly slowing inflation will turn into receding inflation and drive the Fed to make aggressive cuts. In that scenario, the release of pent-up demand in the housing sector could send inflation back to record highs. Next week will bring another hurdle for market p...
MarketBeat Minute(2023-11-30)
November 30, 2023 14:00 - 1 minute - 721 KBEquity markets tried to advance on Wednesday but could not hold the gain. The result is another day of sideways trading near recent highs in a string of sideways moves that are beginning to look like a frothy market top. Wednesday's action was driven by a hotter-than-expected revision to Q3 GDP and reinvigorated fear of higher interest rates for longer. Without a catalyst to drive it higher, the odds are high that the S&P 500 will begin to correct soon. The indicators point to an overbought...
MarketBeat Minute(2023-11-29)
November 29, 2023 14:00 - 1 minute - 721 KBEquity markets wavered for the 5th consecutive trading day on Tuesday as participants waited on critical inflation data. The latest read on the PCE price index is due Thursday and will lead the market to its next move. The data is expected to cool compared to the prior month and previous year, confirming the idea the FOMC is done raising rates. The question is if the data will indicate higher rates for longer or point to the first interest rate cuts since 2020. Another cause for market conc...
MarketBeat Minute(2023-11-28)
November 28, 2023 14:00 - 1 minute - 721 KBEquity markets began the week on uncertain footing as investors look ahead to what December will bring. The S&P 500 hugged the flat line throughout the day, leaving the markets slightly lower at the session's end. The cause for concern includes the OPEC+ decision on production targets, which was delayed from last week, and the October reading of the PCE price index. OPEC+ is expected to reduce production to support oil prices, and the PCE index is expected to cool. While one new byte is expec...
MarketBeat Minute(2023-11-27)
November 27, 2023 14:00 - 1 minute - 721 KBEquity markets advanced the week of Thanksgiving as investors gave thanks for slowing inflation. Although still hot, inflation has cooled to the point that the FOMC is expected to start cutting rates in the first half of 2024. The coming week's PCE Price Index may confirm the trend and, if so, spur the market to new highs. The risk for traders and investors is that the market will top out soon due to the declining estimates for Q4 earnings. The Q3 earnings season was better than the consensu...
MarketBeat Minute(2023-11-24)
November 24, 2023 14:00 - 1 minute - 721 KBEquity markets advanced on Wednesday, setting a new three months ahead of the Thanksgiving Holiday. The move is partly due to a gain in Microsoft driven by the reinstatement of Sam Altman to the held of OpenAI. Shares of Microsoft moved up to set a new all-time high on the news and could head higher. The company is establishing itself as a rival to AI powerhouse NVIDIA and will likely build on the momentum gained in 2023. The S&P 500 closed with a gain near 0.5%, but the move wasn't strong....
MarketBeat Minute(2023-11-23)
November 23, 2023 14:00 - 1 minute - 721 KBEquity markets stumbled on Tuesday on mixed results from Lowe's and other retailers. The quarterly results were mixed with top-line weakness but margin strength to drive outperformance on the bottom line. Still, it was the guidance that sapped investors' confidence. The guidance points to a weaker-than-expected holiday quarter, but there is a caveat. The caveat is that weaker-than-expected guidance has been the theme in retail all year and offset by better-than-expected reality. If this trend...
MarketBeat Minute(2023-11-22)
November 22, 2023 14:00 - 1 minute - 721 KBEquity markets stumbled on Tuesday on mixed results from Lowe's and other retailers. The quarterly results were mixed with top-line weakness but margin strength to drive outperformance on the bottom line. Still, it was the guidance that sapped investors' confidence. The guidance points to a weaker-than-expected holiday quarter, but there is a caveat. The caveat is that weaker-than-expected guidance has been the theme in retail all year and offset by better-than-expected reality. If this trend...
MarketBeat Minute(2023-11-21)
November 21, 2023 14:00 - 1 minute - 721 KBEquity markets had a lot to give thanks for on Monday and rose 0.75%. The move took the S&P 500 to the highest level since July and is on track to continue higher. The market is at a critical resistance point that, if crossed, opens the door to a larger move. The S&P 500 could advance to the 4,800 level in this scenario before hitting its next resistance point. This week is an uncertain time for the market. The end of the Q3 earnings reporting season is at hand, and holiday trading conditio...
MarketBeat Minute(2023-11-20)
November 20, 2023 14:00 - 1 minute - 721 KBThe S&P 500 advanced for the third consecutive week last week, but the rally may be over. The weekly candle is strong, but the dailies show gaps, froth, spinning tops and resistance at a critical level. This level has provided resistance multiple times and is the starting point of the sell-off, which began over the summer. Investors should expect another significant sell-off to happen soon if the market can not get above this level. This could be a quiet week for the market. The Thanksgivin...
MarketBeat Minute(2023-11-17)
November 17, 2023 14:00 - 1 minute - 721 KBEquity markets nearly snapped a 3-day winning streak on Thursday, with the S&P 500 rising marginally for the day. The move was sparked by fears of slowing consumer spending and the possibility of deflation and recession. In that scenario, deflating prices and slowing demand could equate to widespread job losses, stagnating GDP growth and aggressive FOMC rate cuts. While rate cuts are what the market wants, they may come at a cost that will trim significant value off the S&P 500. The S&P 500...
MarketBeat Minute(2023-11-16)
November 16, 2023 14:00 - 1 minute - 721 KBEquity markets extended their gains on Wednesday following a better-than-expected Retail Sales figure and healthy reports from retailers Target and The TJX Companies. Both produced substantial bottom-line strength, although the causes were different. In the case of TJX Companies, sales traffic led to revenue growth and margin leverage, while Target leaned into discounts to reduce inventory. The takeaway is that consumers remain resilient if price-conscious and in search of bargains. The S&P...
MarketBeat Minute(2023-11-15)
November 15, 2023 14:00 - 1 minute - 721 KBEquity markets advanced on Tuesday following a cooler-than-expected CPI report. The headline CPI was flat compared to the prior month, resulting in a 3.2% YOY gain, while the core figure declined to 4.0% YOY and the lowest level in 2 years. The news is on track with the idea that inflation is subsiding and the FOMC will not raise interest rates anymore, causing the S&P 500 to gap higher at the open and rise more than 2.0% at the session's high. The move suggests another attempt by the S&P 500...
MarketBeat Minute(2023-11-14)
November 14, 2023 14:00 - 1 minute - 721 KBEquity markets were flat on Monday as traders brace for a big week for stocks. Not only is the October read of the CPI due, but there is a raft of earnings reports from the retail sector and Retail Sales data on the calendar. The market expects to see weakness in consumer spending and may not be disappointed. The latest data from the NRF shows retail sales contracting for the 2nd month. Retailers slated to report earnings include Home Depot, Target, Walmart, and the TJX Companies. The S&P 50...
MarketBeat Minute(2023-11-13)
November 13, 2023 14:00 - 1 minute - 721 KBEquity markets advanced last week despite another hawkish twist in the FOMC saga. Fed Chief Jerome Powell apparently contradicted his own comments that the peak of the rate hiking cycle was near. He says the committee is not confident it's properly positioned to bring inflation back to the 2% target. In this scenario, the Fed will need to hike rates at least 1 more time to be sure and may need to hike more than once if inflation persists at above-target levels. This week will bring a host o...
MarketBeat Minute(2023-11-10)
November 10, 2023 14:00 - 1 minute - 721 KBEquity markets were mixed and flat early on Thursday as market momentum waned. However, the day turned into a rout for the bulls following hawkish comments from Fed chief Jerome Powell. He says the Fed is not confident that it has done enough to tame inflation, and more rate hikes may be needed. This is contrary to a recently firmed opinion that the Fed was near the cycle's peak and put a cap on equities. The S&P 500 is showing resistance near recent highs and may not be able to move much h...
MarketBeat Minute(2023-11-09)
November 09, 2023 14:00 - 1 minute - 721 KBEquity markets were mixed on Wednesday, with the S&P 500 struggling to extend its longest winning streak in 2 years. The move comes after a sharp melt-up driven by the Q3 earnings season, cooling inflation, and evidence the Fed is nearing the peak of the rate hike cycle, so a slowdown in upward momentum is expected. The caveat for investors is that the new normal is still in place and will continue to drag on corporate earnings over the coming quarters. The S&P 500 may continue to rally fro...
MarketBeat Minute(2023-11-08)
November 08, 2023 14:00 - 1 minute - 721 KBEquity markets advanced another day on Tuesday, taking the S&P 500 up by 0.3% to set a 2-month closing high. The rally is the 2nd longest for the year and may continue higher, given solid results from retailers next week. The risk is that retailers' profits and guidance will fall short of the consensus and cap gains for the index, and there are reasons to fear. Reports are due from Walmart, Target, and Home Depot; 2 of which have struggled this year. This week's risk is Fed-related. There a...
MarketBeat Minute(2023-11-07)
November 07, 2023 14:00 - 1 minute - 721 KBEquity markets were steady and stable on Monday following the rebound last week. The market is digesting the 6% move posted in the previous week and may move sideways for the next 2 to 3 weeks. This week will bring another onslaught of earnings reports, but nothing that should be significantly market-moving. The next big hurdle will come next week when the retailers start to report, and the latest read on the CPI is released. Another cool figure will reinforce the idea that the FOMC is at or ...
MarketBeat Minute(2023-11-06)
November 06, 2023 14:00 - 1 minute - 721 KBEquity markets rallied in the prior week on hopes the Fed rate hiking cycle is near the end. Remarks from Fed chief Jerome Powell alluded to the event but left the door open to additional hikes should they be required. However, the takeaway is that rates will remain high indefinitely, and the first cut may not come until late in 2024. The S&P 500 gained about 6% for the week but remains below the 2023 highs with critical resistance close. This week will be a trying time for equity traders. ...
MarketBeat Minute(2023-11-03)
November 03, 2023 14:00 - 1 minute - 721 KBEquity markets continued to rebound on Thursday following the Fed's November policy statement. Although the Fed indicated another rate hike could be necessary to tame inflation, the market cheered because the peak was near. The S&P 500 gained about 2% at the session's high and could continue to advance over the next few weeks. The risk is that inflation is not tamed, and rates will remain high indefinitely. In this scenario, the S&P 500 will be capped by a dwindling outlook for corporate earn...
MarketBeat Minute(2023-11-02)
November 02, 2023 14:00 - 1 minute - 721 KBEquity markets rebounded on Wednesday, bolstered by the FOMC policy decision. The FOMC held rates steady as expected and made little to no change in the statement. The most glaring change is the outlook on economic growth, which was upgraded. The committee says the economy expanded rapidly, ultimately bad news for stocks. With economic activity still robust and potentially accelerating, the odds that inflation will recede to 2% soon are dwindling. In this scenario, the FOMC may not hike rates...
MarketBeat Minute(2023-11-01)
November 01, 2023 14:00 - 1 minute - 721 KBEquity markets continued to rebound on Tuesday, but investors should not read too much into the move. The S&P 500 gained less than 1% for the day and remains below critical resistance. If anything, Tuesday's gain was a relief rally within a bear market and 1 that comes with outsized risk. Today is the FOMC policy decision, and the odds are high that the committee will issue a very hawkish statement. The pace of inflation remains high despite recent slowing and will keep the Fed's foot on th...
MarketBeat Minute(2023-10-31)
October 31, 2023 14:00 - 1 minute - 721 KBEquity markets began the week on an upswing, with the S&P 500 rising more than 1.5% at the session's high. The move was driven by some better-than-expected earnings reports and the hopes the FOMC will be lenient on Wednesday. The FOMC is expected to release its next policy move on Wednesday, and for that to be no change to base rates. However, the market should be ready for a hawkish statement. Inflation has cooled from its highs but remains hotter than target and will keep the Fed hawkish fo...
MarketBeat Minute(2023-10-30)
October 30, 2023 14:00 - 1 minute - 721 KBEquity markets continued to sell off last week despite some better-than-expected earnings reports. The move was driven by hot economic data that points to persistent GDP growth, consumer demand, and inflation. With the FOMC meeting slated for the week, the risk is that hawkish Fed rhetoric will intensify and may telegraph the next policy move as an increase in rates. In this scenario, the S&P 500 could shed another 10% or more before hitting its bottom. The S&P 500 shed more than 2.5% for t...