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Investors are convinced another rate hike is around the corner.

The Federal Reserve is widely expected to increase its benchmark interest rates at the conclusion of its meeting this week. The market is pricing in a whopping 93% chance that rates are kicked up by 25 basis points, according to the CME Group.

The Fed last hiked rates in December and has charted three rate hikes for 2017 amid an improving labor market and rising inflation.

Here’s what to watch in the week ahead:


Del Taco reports earnings in the morning.


President Donald Trump and German Chancellor Angela

Merkel will sit down for the first time together in a meeting at the White House. Trump is expected to ask her about international trade and dealing with Russia and President Vladimir Putin.

The countries that signed up for the Trans-Pacific Partnership will pow wow in Chile and will likely discuss a path forward following Trump’s decision to back out of the trade deal.

Wal-Mart CEO Doug McMillon, Priceline CEO Glenn Fogel and others will speak at the Bank of America Merrill Lynch 2017 Consumer & Retail Technology Conference.

DSW reports quarterly earnings in the morning and Fogo de Chao follows after the bell.


The Fed will announce its decision at 2 pm EST and then Yellen will give a news conference at 2:30.

U.S. Secretary of State Rex Tillerson will make his first trip to Asia since taking office, with stops in Japan, South Korea and China. Trump frequently bashed China on the campaign trail, saying it intentionally keeps its currency cheap and taxes U.S. products coming into the country. He’s also promised to take on North Korea in light of its nuclear capabilities.

Voters in the Netherlands go the polls. Investors are watching this election closely as populism gains ground in Western Europe. One of the front-runners Geert Wilders — who draws comparison to Trump — has campaigned on an anti-immigration, anti-European Union platform.

Oracle, Williams-Sonoma and Guess share quarterly results in the afternoon.


The U.S. debt ceiling limit expires. It will reset the next day but lawmakers still need to approve a new debt ceiling or extension. Treasury Secretary Steven Mnuchin has encouraged Congress to raise the ceiling "at the first opportunity."

President Trump is expected to release his first budget outline for fiscal 2018. He will likely seek funds for the Mexican border wall and increased defense spending.

Trump’s revised travel ban takes effect. Citizens of six countries (down from seven now that Iraq is excluded) will be unable to travel to the U.S. for the next 90 days. The travel ban won’t apply to individuals with existing visas or green cards.

Mnuchin will meet with Germany’s finance minister Wolfgang Schaeuble to discuss trade and economic issues in Berlin before hosting a joint news conference.

The Bank of England and the Bank of Japan are both expected to keep the status quo in announcing changes to their monetary policy.

Century Link investors will vote on the company’s proposed acquisition of Level 3 Communications at a special meeting.

Dollar General reports earnings before the bell, with Adobe and Perrigo in the afternoon.


The finance ministers and central bankers that are part of the Group of 20 meet in Germany to discuss global exchange rates and the Trump Administration’s stance toward free trade.

Tiffany reports earnings in the morning.

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