The Week Ahead: Wall Street Awaits October Fed Decision

Following a light week of economic data, investors will turn their attention to the Federal Reserve's Open Market Committee (FOMC) interest rate decision for October, gross domestic product (GDP), personal income, and consumer spending figures.

The earnings calendar will continue its deluge of reports, featuring the likes of Alphabet (GOOGL), Biogen (BIIB), Chipotle Mexican Grill (CMG), Coca-Cola (KO), Coinbase Global (COIN), Corning (GLW), eBbay (EBAY), Eli Lilly (LLY), Enphase Energy (ENPH), EQT Corp (EQT), FedEx (FDX), Ford Motor (F), Harley-Davidson (HOG), Novartis (NVS), PayPal (PYPL), SoFi Technologies (SOFI), Strategy (MSTR), T-Mobile US (TMUS), Twilio (TWLO), and more. 

Below is the schedule of key market events for the week ahead. All economic dates are tentative and subject to change.

Monday, October 26 will be quiet, with no major market events scheduled.

Tuesday, October 27 will bring September's durable goods orders, the S&P CoreLogic Case-Shiller Home Price Index, new home sales, and consumer confidence data. The Federal Open Market Committee (FOMC) will also begin its two-day meeting.

On Wednesday, October 28, investors will unpack the advance U.S. trade balance in goods, wholesale inventories, and retail inventories. However, all will be focused on the Federal Reserve's interest rate decision, due out at 2 p.m. ET.

Thursday, October 29 will feature advance third-quarter GDP estimates, weekly jobless claims, and September's personal income, consumer spending, and personal consumption expenditures (PCE) price index data -- including the core reading.

Rounding out the week, Friday, October 30 will bring the employment cost index and the Chicago Business Barometer, also known as the Chicago Purchasing Managers' Index (PMI).