Following a weaker than expect NAHB report on Monday, Tuesday we see more data on the housing market with the release of November Housing Starts. However, given the 2% drop in the S&P 500 Index (SPX) on Monday, investors will be primarily focused on Wednesday’s FOMC meeting, where the Fed is expected to raise the Federal Funds Rate but soften their language going forward. As we stated in a note on Monday, 2019 is going to be all about a change in Fed perceptions vs. slowing growth and trade tensions.
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