The Fed will also be looking at yesterday’s much weaker than expected durable goods report. The Commerce Department said new orders for manufactured goods, which are expected to last three years, declined by 3.4%. The report along with lackluster earnings from Caterpillar (CAT) and Microsoft (MSFT) saw the markets suffer their biggest decline in three weeks. “The worry now is we’re not quite at the point we thought we were heading into the fourth quarter last year,” says Garcia.