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Tuesday Morning Notes: FOMC 2-Day Meeting Kicks Off Today

|Includes:The Coca-Cola Company (KO), NFLX

 HedgeFundLIVE.comMorning Notes

- Asian markets saw a bit of pressure today
- In China, reports that PBOC raised capital adequacy requirement on its five largest banks
- There was a lot of back and forth denying then confirming this rumor throughout the overnight session
- Ultimately Chinese bank names sold off as a result
- In Japan, S&P cut its outlook on six automakers and suppliers, sending the Nikkei lower, closing down 1.2%
- European bourses are trading higher
- UBS earnings helped add positive tone this morning
- Dollar is weak again
- Gold and silver pulling back
- Lots of earnings out including NFLX last night, now trading lower; F this morning, now trading higher; and KO this morning, now trading lower
- FOMC meeting begins today and continues into tomorrow
- Tomorrow the Fed will release its initial policy statement at 12:30p; then Bernanke will give a quarterly conference call at 2:15p
- Case Shiller Idx: -3.3% vs. -3.2%
- April Consumer Confidence number out at 10a

Stocks: KO, NFLX