Markets are calibrating to the new world of a less easy Fed.
Traders will be watching for those types of Fed-related moves Friday, amid the activity generated by the quadruple expiration of futures and options, and re-balancing of the and Nasdaq. Facebook will join the S&P on Friday afternoon.
There is also third-quarter GDP on Friday at 8:30 a.m. ET. It is the third look at the number, which has risen to a surprising rate of 3.6 percent. Just several weeks ago it was expected to be 2 percent.