The Day Ahead: Wednesday
It’s D-day at the Fed, as Chairman Ben Benrnake (pictured) and the Federal Open Market Committee unveil their latest policy decision. Virtually no-one is expecting a rate move, but, rather, the focus will be on language and how the Fed weighs recent upbeat economic data against fears that a burgeoning recovery is on shaky ground.
Also in the driver’s seat is Chrysler CEO Sergio Marchionne, who is expected to spell out plans for reviving the flat-lining automaker.
* Cisco Systems leads the earnings parade with quarterly numbers that may reflect a recovery in tech spending. Comcast, Qualcomm and News Corp are also on the docket.
* Data highlights include the ISM’s non-manufacturing numbers and readings on the employment picture from Challenger and ADP.
* Reuters is also hosting an Auto Summit in Detroit and Paris. The day’s speakers include Ford President of the Americas Mark Fields; AutoNation CEO Mike Jackson; CAW President Ken Lewenza, Robert Bosch CEO Peter Marks; Honda Motor Senior Vice President John Mendel and DBT President Herve Borgoltz.