The Fed's policy making arm, the FOMC, will starts its sixth of eight meetings today. We do not expect a rate hike, but do expect to see the Fed announce the start of its balance sheet normalization program. Markets will be parsing the Fed statement, economic projections, and press conference comments for any sign of a shift in the Fed's inflation expectations and what that could mean for the future path of rate hikes. (LPL Research)

The Dow closed at a new high five consecutive days and was higher seven days in a row. Incredibly, the Dow had a 9-day new-high streak in July and August, and a 12-day new-high streak in February. The S&P 500, meanwhile, made new highs five of the past six days. (LPL Research)

The mining equipment market will grow next year boosting Caterpillar's business, according to UBS.  Caterpillar stock is up 33% year to date. 

The Wall Street Journal reports the damage from hurricanes Harvey and Irma stands to hinder US economic growth as August saw a 0.9% drop in industrial production and a 0.2% decline in spending at retailers. Americans’ perceptions of the economy which was highest before the storms since 2000 and are now 1.5% lower, according to the University of Michigan.

The S&P 500 is up 9 and the NASDAQ is flat.  The MSCI international index is higher.  

Oil is up 33 cents at $50.25 a barrel.

Gold is flat at $1311 a Troy ounce.