Previewing Tomorrow's Economic Reports

There were no economic reports released today, but tomorrow is expected to pick up the slack, with Empire Manufacturing and the FOMC rate decision to receive the most attention.

At 8:30, Empire Manufacturing is expected to be released for March. Economists expect a reading of 17.0, up from February's 15.43.

February Export and import prices are also expected to be released at 8:30.

At 10:00 a.m., the NAHB is going to release its housing market index for March. Analysts expect a reading of 17, which is a tick up from the 16 the prior month saw.

At 2:15, the Federal Open Market Committee (FOMC) is expected to announce its rate decision. There is expected to be no change to the interest range, which is targeted at 0-0.25% right now. Traders will be anxiously awaiting what the FOMC has to say with regards to its $600 billion quantitative easing program, which is scheduled to end in June.