General Market Update
Stocks are flat on the session as volume is extremely light. Not only was there no earth shattering news over the weekend but all eyes are now focused on the FOMC Policy Meeting this week. This is making for a market that will end neutral to higher.
Key Stocks Leading Again
Apple Inc. (NASDAQ:AAPL), which is the largest component of the S&P 500 and the NASDAQ 100 is moving higher. It is currently trading at $551.41, +6.24 (+1.14%) . As long as Apple is higher, the indexes are likely flat to higher as well. Many traders are looking to short Apple. This action is unwise until master levels are hit. To get this master level, take the seven day free trial to the Research Center and Intra Day Stock Chat at InTheMoneyStocks.
Even with oil lower today, Exxon Mobil Corporation (NYSE:XOM) is carrying the Dow Jones Industrial Average. The stock is trading at $85.71, +1.40 (+1.66%). Global growth optimism is helping this key Dow component move higher.
As the markets float near their 52 week highs, all eyes are on the Federal Reserve. Any signs of further quantitative easing would create another pop. On the other hand, any signs of tightening sooner than originally planned could create a sharp drop.