Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
The Fed Tuesday is expected to show it remains committed to its easy money policies, which temporarily may take investor focus away from global events.
Natural gas was at a two-week high Monday as Japan's nuclear power shut down put the spotlight on global natural gas supplies, as an alternate fuel for electric power generation.
PIMCO CEO Mohamed El-Erian shared his thoughts on Japan's economy, following the tragic earthquake and tsunami that hit that nation Friday. El-Erian wrote that five factors will dominate the economic outlook, as the whole world is hoping the tragedies will soon give way to stories of rescues and recovery of a society that is suffering enormous pain and disrupting uncertainties.
Traders went home Friday thinking about Japan's tragic earthquake and tsunami, more possible unrest in the Middle East, and Europe's sovereign debt problems.
Markets head into Friday watching and waiting to see if economic news outweighs geopolitical concerns, after Thursday's "risk off" selling spree.
Stocks seem locked in a trading band of indecision, as traders await the next development from the Middle East or economic news that could move the market forward.
Nomura Securities, which put a target of $220 on oil not too long ago, is scaling back on some energy trading and restructuring commodities staff in London and Asia, a source said.
Wall Street's bull enters its third year with a furrowed brow. Middle East tensions, soaring oil prices, combined with worries surrounding Europe's weakest sovereigns are powerful hurdles facing the young bull.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
Senior Producer - Breaking News
Dominic Chu is a markets reporter for CNBC.
Evelyn Cheng is a markets writer for CNBC.
Sara Eisen is a correspondent for CNBC, focusing on currencies and the global consumer.