The Federal Reserve is meeting today and tomorrow. Ahead of the policy meeting announcement tomorrow, the markets and exchange traded funds (ETFs) seem to be coming up for air and not making any huge moves.

According to the ETF Trends Dashboard, the major indexes are all trading higher today, albeit slightly.

Reversing some of Friday’s losses, the U.S. dollar is up against the yen and the euro. The dollar may decline again if the Federal Reserve announces new stimulus measures. Analysts are also eying the meeting for signs about the Fed’s growth outlook. But for now, at least, PowerShares DB U.S. Dollar Bullish (NYSEArca: UUP) is up 0.3%. [Currency ETF Trends Spotted.]

US Dollar ETF

McDonald’s (NYSE: MCD) notched its largest monthly sales gains in more than a year on its hit line of smoothies and frappes, combined with a sweltering July in many parts of the country. Sales climbed 5.7% in July in the United States, while expanding 7% globally. iShares Dow Jones U.S. Consumer Services (NYSEArca: IYC) is up 0.5% this morning; McDonald’s is 5.5%. [Fast Food Buoyed in Slow Economy.]

Consumer Staples

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.