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Dow's direction depends on what the Fed says this week

Any hint of tapering will affect earnings momentum, chances for Santa Claus rally

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Any hint on the timing of bond purchase "tapering" from the central bank will likely decide whether the Dow Jones Average completes its run to 16,000 or falls back below 14,000 - PHOTO: AFP

LAST week, earnings reports helped US stocks inch up to make more record highs but most traders awaited a signal from the Federal Reserve meeting this week.

Any hint on the timing of bond purchase "tapering" from the central bank will likely decide whether the Dow Jones Average completes

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