Dow Drops 47 Points as Federal Reserve Takes Center Stage

image Michael Haddad

6:24 a.m. The Dow Jones Industrial Average had a nice relief rally after the midterm election. Now it gets to worry about the U.S. Federal Reserve.

The Fed's two-day meeting ends today, and while no major changes are expected -there is no press conference Thursday-markets still seem a bit on edge. S&P 500 futures have fallen 0.4%, while Dow Jones Industrial Average futures have declined 47 points, or 0.2%. Nasdaq Composite futures have dropped 0.6%.

"In my view, the mid-term elections or the White House rhetoric will have little effect on more Fed rate hikes," writes Seaport Global's Tom Digaloma. "I expect the Fed to leave rates unchanged today and will signal for a December rate hike of 25bps."

As with the midterms, we may get a chance to see what happens when the surprise is no surprise.

Write to Ben Levisohn at Ben.Levisohn@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , US Markets

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