Markets Dip Following FOMC Statement; Dec. Rate Hike Now More Favorable (SPY) (DIA) (QQQ)

Markets largely dipped following the FOMC statement from its October 27 - 28 meeting this week.

In part, the FOMC hinted that short-term interested rates would remain unchanged near zero, but that there's a better chance for a rate hike at the final meeting of the year in December.

The Fed removed the following sentence in its latest statement: Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term.

The S&P 500 is up just 0.2 percent, the Nasdaq is up 0.3 percent, and the Dow Jones Industrial Average is up just under 0.2 percent.

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