A Storm is Forming Against Stocks

Two critical factors appear to be colliding to form a perfect storm against stocks this week. The Federal Reserve has its first monetary policy meeting through which it could actually raise interest rates, marking the first such move since 2006. Concern about near-term action, whether in June or soon thereafter, weighs against stocks. I expect concern will be intensified due to the Fed’s projections to be released at this meeting and possibly through Janet Yellen’s post release press conference. Meanwhile, the issue that has haunted us since Syriza was elected into power in Greece, the potential disruptive exit of Greece from the eurozone, hurls global markets into the fire this week and probably through month’s end as the midnight hour nears. See the report on stocks here. Article interests SPDR S&P 500 (NYSE: SPY), SPDR Dow Jones (NYSE: DIA), PowerShares QQQ (Nasdaq: QQQ), iShares Russell 2000 (NYSE: IWM), Vanguard Total Stock Market (NYSE: VGK). 

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