Can you believe it? The sky has not fallen, hell hath not frozen over, and economies will continue to function despite the outcome of yesterday's Greek elections. Of course, all of this was made easier by a victory from the conservative New Democracy party over the anti-bailout forces of Syriza. With the victory, a pro-bailout coalition is expected to be formed, and a new phase of policymaker back-and-forth will undoubtedly ensue. One thing is certain in all of this: Greece, and the rest of Europe, is not out of the woods by any means. This morning's market reaction reflects that truth, as Spanish bond yields continued their rise and European equities respond in lackluster fashion. Domestically, futures on the Dow Jones Industrial Average
Now let's dive into a few issues facing investors this week, sans Greece.
FOMC, Forking Out More Cash?
Tuesday and Wednesday the 12-member FOMC, or Federal Open Market Committee, will meet to discuss the nation's economy and financial situation. Recent domestic economic data has many predicting new monetary easing actions are coming soon. Given the risks presented by these readings, as well as the burgeoning threat from Europe, a serious discussion on new actions will undoubtedly enter the committee's discussion this week. While an immediate move isn't a certainty, if a decision were to come, it would likely involve a new asset purchase program or an extension of short-term interest rate guidance past the prior timeline of 2014.
Notable earnings reports this week include a Tuesday morning report from FedEx
Mr. Softy's show and tell
Software juggernaut Microsoft