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Stocks Rally Ahead of Next Week's Fed Meeting, Apple Earnings

Stocks rallied to close out another positive week, helped by central bank stimulus and some nice earnings surprises.

The question now is whether the market's feel-good mood will carry over into the coming week, especially with the Federal Reverse's latest policy meeting mid-week.

Central banks in China and Europe aren't making the Fed's decision on interest rates any easier. With China announcing more stimulus on Friday and the European Central Bank open to further moves, the Fed just has more reason not to do anything.

"From the Fed's point of view, the consideration and implantation of further stimulus around the world heightens the implied divide from the Federal Reserve still posturing for a rate increase near-term," said Lindsey Piegza, chief economist at Stifel Fixed Income. "Given the recent renewed weakness in domestic employment, as well as nonexistent inflation, the hope of raising rates by the end of the year is likely to remain just that--wishful thinking."

While few expect the Fed to hike rates in the coming week, the key question is whether December is now off the table.

On Friday, the S&P 500 had...