Few Positives

Good morning. Premarket futures are indicating a flat to moderately weak open.

There are few outstanding positives on the newswires as retail sales come in weaker than expected, a credit downgrade at General Motors (GM), crude holds above $61 per barrel as Goldman Sachs confirms their "Super Spike" view, and companies like Best Buy (BBY) and Cendant (CD) offer disappointing outlooks. Yet, today, for good or for ill, is all about the Fed and the accompanying statement and whether they will signify that its rate hikes will continue at a "measured" pace.

The market's performance so far in December hasn't matched expectations, yet we know from the trading calendar that the Santa Clause rally window usually starts one week from now. Until then, it's about positioning ahead of that rally and/or taking profits following the last one. To be sure, the bulls would be greatly helped to have more actionable headlines that we have this morning.

Have a great day out there!