The Federal Reserve seems to be ready for an interest rate hike this week. Economists overwhelmingly agree that the solid jobs report for November released earlier this month was the final signal needed for the Federal Reserve to raise interest rates for the first time in nearly 10 years. In recent appearances, Federal Reserve Officials, including Chairwoman Janet Yellen has strongly indicated that interest rates will rise. The meeting is a 2 day one this time, with the decision announced Wednesday. Amazon (AMZN) is reportedly pulling some brands of hoverboards from its website. According to Swaqway, a major seller of hoverboards, Amazon has started questioning makers about their safety standards. There's no bad blood between Taylor Swift and Apple (AAPL). Apple has won an exclusive streaming deal with Taylor Swift to show a concert film from her world tour.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.