Just as the Federal Reserve begins its two-day meeting Tuesday, we will all get to see the U.S. Labor Department's report of November consumer prices at 7:30 a.m. CST. The report probably won't stop the Fed from raising rates by a half-percent on Wednesday, as is expected, but it could offer a clue for future decisions. Traders will continue to keep close watch on the latest weather forecasts, any export news and events in Ukraine.
Weather
A very strong storm system is moving through the Plains Tuesday morning. A line of showers and thunderstorms are creating some severe weather across Texas, which will likely get into Louisiana and adjacent areas this afternoon. Farther north, heavy snow is picking up from Colorado to South Dakota and will expand into Montana, North Dakota, and Minnesota later Tuesday and Tuesday night. Winds are also strong across much of the middle of the country, creating blowing dust in dry areas of the Plains and a blizzard in the heavy snow across the north.