Fed quiets down ahead of rate hike;stocks may take breather

After several days of wild volatility, the stock market may use the coming week to catch its breath, as it waits for the Fed to end the historic era of zero interest rates later this month. Markets are in full tilt, with big shifts in currencies, yields and commodities prices in the past week. 


But they are also primed for a Fed rate hike Dec. 16, after Friday's 211,000 November nonfarm payrolls showed a continuing solid trend of job creation. "It (the jobs number) sends the signal the economy is in decent shape, but it's the final piece of the puzzle the Fed needs to raise interest rates," said Scott Clemons, chief market strategist at Brown Brothers Harriman. 

The Fed is expected to raise its target fed funds rate for the first time in nine years, ending seven years of ultralow rates.



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