MIDDAY LUNCH

Dow 10613.75  -85.00, Nasdaq 2274.77  -30.92, S&P 1117.35  -10.44 

The market is suffering from widespread weakness today after the release of poor economic data and traders wait for the release of the FOMC rate decision.   

Both Asian and European markets closed lower after China reported disappointing trade data. Additionally, U.S. productivity came in at -0.9% versus the prior +3.9%, Economists were expecting productivity to rise +0.1%.

Economists expected rates to remain unchanged at 0.0% to 0.25%.  While, traders will be analyzing the policy statement looking for clues about the economy, future interest rate changes, and inflation.

The basic materials sector is leading the losses today; the sector is down -1.78%.

After the close today Cree (CREE) 69.54 -2.03, -2.84% will be reporting earnings, analysts expect the company to post earnings of +$0.51 versus year ago earnings of +$0.18.

Walt Disney (DIS) 35.00 -0.16, -0.46% will also be reporting earnings after the close; analysts expect the company to post earnings of +$0.58 versus year ago earnings of +$0.51.