There is a Federal Open Market Committee meeting tonight. There is a expected rate cut tonight or policy view on mortgage crisis currently on in US.

I guess it will create a sentiment?

Any view Alchemist sir?

The meeting took place on October 31st. Today the minutes of the FOMC (Federal Open Market Committee) meet will be made public.

No rate cuts for now.

However, the minutes will disclose the Fed's outlook for the US economy.

This forecast is important, but I feel the US markets are already oversold and may bounce back a little - today or tomorrow.

I really don't expect anything substantial from the minutes.

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Looks like what ever it was, it did made an impact today. Not Bad!