Buckle Up: We've Got the Fed, Apple, Amazon and Global Unrest

Today the Fed kicks off its policy meeting - at a time when big earnings reports are dropping and news of violence in the Middle East is heating up. 

But before looking ahead, let's look back.

It has been a year since the Federal Reserve last moved interest rates.  At that time, the committee ratcheted up rates to 5.25%-5.5%, attempting to whack inflation with a final blow.  At the time, many market strategists and economists believed that last hike was simply too much and would be the death knell for the economy.  Meanwhile, the Fed believed differently. In fact, the mantra of "higher for longer" has been a theme at each meeting since.  

Monetary policy is owned by the Federal Reserve. It crafts it and puts out the best policy for economic growth, stable prices and full employment.  

Today's meeting is likely to show the committee is pivoting toward more dovish policy of rate cuts, but not too soon.

But there's now plenty going on in the market, as well. Tuesday's ride in the stock market may be a prelude of things to come.  Between now and Friday there will be huge events on the calendar:  A new month starts trading tomorrow, the Fed policy decision, Apple AAPL and Amazon AMZN earnings Thursday and Friday's non-farm payroll report.  This is all likely to move markets in a big way, by the end of the week we may be able to see a trend develop.

For now, crude oil is higher this morning after an attack believed to be carried out by Israel led to the death of a Hamas leader.  This action is likely to create more conflict and chaos in the Middle East; oil prices will be the beneficiary.  Gold is higher as well.

Overnight saw sweeping gains in Europe and Asia.  The STOXX index in Europe was higher by .9%, Japan up by 1.5% while Hong Kong and Shanghai both posted 2% gains or more.  This seems to be why there is a strong bid in the markets this morning, but prepare for a bumpy ride.

The Portfolio is long AAPL, AMZN.