Tuesday, aka Fed Meeting Day

Markets are waiting for an announcement by the Federal Reserve Bank on the direction of interest rates. That should come around 2:15 eastern time. Expect to see a bump up. That's what Wall Street is thinking will happen. No surpise in an increase, but the Street will want to hear from Mr. Greenspan on direction in the future. If Greenspan indicates a hesitancy to continue raising rates, stocks should respond positively. When Alan Greenspan talks, trust me, people listen. The latest on the MCI bidding war has Verizon as the winner. Is it over yet? I think we need to wait for the ink to dry on this one before we declare a winner. I'm starting to feel like I'm watching a tennis match.