U.S. stocks to take pause as focus turns to Fed

Interest rate decision due Wednesday as earnings flood continues

U.S. stocks are expected to move into choppy territory next week to take a breather from runs to fresh highs and as investors turn some energy away from corporate earnings to the Federal Reserve's decision and outlook on interest rates.
Along with wall-to-wall earnings reports, the first look at the Gross Domestic Product for the third quarter will be released and will headline a list of economic reports including figures for durable goods orders, home sales, and consumer sentiment in October.

"The good news is that the market has shown a lot of momentum being able to get up to this level and [the Dow Jones Industrial Average] rising 12% in the last two and a half months," said Al Goldman, chief market strategist at A.G. Edwards.
"The bad news is we're up 12% in the last two and a half months. I think the market over the next week is going to go into a very normal pause to refresh."
Earnings reports have injected bullish energy into stocks and pulled the Dow to its first ever close past the 12,000 level on Thursday. It held above 12,000, barely, on Friday.
The earnings season is heading into the second of its two busiest weeks.