Fed Watch Begins Tomorrow

With the two day Fed meeting beginning tomorrow, one would think that equity traders would be on the cautious side.  with Korea saber rattling and uncertainty about how the Fed would try to initiate divesting itself of its $4.5 trillion worth of assets acquired over the last nine year, traders boosted the Dow and the S & P to new record highs once again.   Housing starts and building permits will join the Fed meeting on the economic menu tomorrow.  The Dow gained 63 points today.