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.
Odds are good that stocks will ride out the final week of the year on an upswing that could continue into early January.
The VIX hovers near its low for the year, and the stock market trades near its highs. On the surface, those kinds of moves may make you feel good about the stock market rally. The low VIX — a sign of low volatility — may even make you feel a little bit complacent. But some traders watch this type of scenario as a possible warning sign. There is, of course, the old Wall Street saying: "VIX low. Time to go."
Stocks should trade quietly as investors sit out until the start of the new year. Economic reports on home sales, jobs and manufactured goods in the holiday-shortened week are coming—and everyone will be watching retail sales.
Bernanke is expected to renominated into office on Thursday, but he has his critics; some who have blasted Time's magazine's choice of the Fed Chief as "Person of the Year."
Stocks should trend higher in the coming week and are in easy striking distance of a new high for the year.
Thursday brings another wave of earnings, but markets will also be digging deep into GDP data for hints on the Fed.
Check out the companies making headlines after the bell Wednesday: Skechers, Whole Foods, LifeLock & more.
The Fed is on track to hike rates, and the tweaks to its post-meeting statement were vague enough to keep the debate going on when it will move.
The Federal Reserve upgraded its assessment of the U.S. economy.
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 at CNBC's Breaking News Desk.
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.