On Friday, stocks slid as investors reacted to a hotter-than-expected inflation report and a dismal warning from FedEx about a "significantly worsened" global economy. The Dow industrials dropped 139 points, while the S&P 500 lost 0.7% and the Nasdaq Composite shed 0.9%.
Investors are focused on the Fed's two-day meeting, which will begin Tuesday. The central bank is expected to raise interest rates by another three-quarters of a point, though investors are also watching for guidance about corporate earnings before the next reporting season begins in October.
Beyond the Fed meeting, there are just a few economic data releases this week, including August housing starts on Tuesday and initial jobless claims on Thursday.
There are also a handful of corporate earnings on deck, including Costco, Darden Restaurants, General Mills and Lennar.
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