And no, I am not buying you lunch for thinking.

History tells us that the end of rate hikes has typically rewarded patient investors. The chart below shows returns for the S&P 500 following the end of rate-hike cycles since 1980.

S&P Global Manufacturing (Final) PMI for January (9:45 a.m.)
Construction Spending for December (10 a.m.)
ISM Manufacturing PMI for January (10 a.m.)
JOLTS Job Openings for December (10 a.m.)
Energy Information Administration Crude Oil Inventory Data (10:30 a.m.)
FOMC Policy Announcement (2 p.m.)
Fed’s Powell Speaks (2:30 p.m.)
Wards Total Vehicle Sales for January

Monday:

Federal Reserve in Blackout Period Ahead of Next Policy Meeting (Saturday)
China – Markets Closed for Lunar New Year Holiday
Building Permits for December (8 a.m.)
ECB’s Panetta Speaks (9:30 a.m.)
Eurozone – Consumer Confidence Indicator for January (10 a.m.)
The Conference Board’s Leading Economic Indicators for December (10 a.m.)
ECB’s Lagarde Speaks (12:45 p.m.)

Tuesday:

China – Markets Closed for Lunar New Year Holiday
Japan – Markit/JMMA Preliminary Manufacturing PMI for January
Germany – GfK Consumer Confidence for February (2 a.m.)
France – Manufacturing Business Climate Index for January (2:45 a.m.)
France – S&P Global Preliminary Manufacturing, Services, and Composite PMI for January (3:15 a.m.)
Germany – S&P Global Preliminary Manufacturing, Services, and Composite PMI for January (3:30 a.m.)
Eurozone – S&P Global Preliminary Manufacturing, Services, and Composite PMI for January (4 a.m.)
U.K. – S&P Global Preliminary Manufacturing, Services, and Composite PMI for January (4:30 a.m.)
ECB’s Lagarde Speaks (4:45 a.m.)
S&P Global U.S. Preliminary Manufacturing, Services, and Composite PMI for January (9:45 a.m.)
ECB’s af Jochnick Speaks (9:45 a.m.)
Richmond Fed Manufacturing Index (10 a.m.)
American Petroleum Institute Crude Oil Inventory Data (4:30 p.m.)

Wednesday:

Australia – CPI for December
China – Markets Closed for Lunar New Year Holiday
U.K. – PPI for December
Germany – Ifo Business Climate and Expectations for January (4:30 a.m.)
France – Registered Job Seekers for December/Q4 (6 a.m.)
MBA Mortgage Applications (7 a.m.)
Energy Information Administration Crude Oil Inventory Data (10:30 a.m.)

Thursday:

China – Markets Closed for Lunar New Year Holiday
South Korea – GDP (Advanced) for Q4
U.K. – CBI Distributive Trades Survey for January (6 a.m.)
Building Permits for December (8 a.m.)
Chicago Fed Manufacturing Index for December (8:30 a.m.)
Initial Jobless Claims (8:30 a.m.)
Continuing Claims (8:30 a.m.)
Durable Orders, Shipments for December (8:30 a.m.)
GDP (Advanced) for Q4 (8:30 a.m.)
Wholesale Inventories for December (8:30 a.m.)
New Home Sales for December (10 a.m.)
Energy Information Administration Weekly Petroleum Inventories (10:30 a.m.)
Kansas City Fed Manufacturing Index for January (11 a.m.)

Friday:

Australia – PPI for Q4
China – Markets Closed for Lunar New Year Holiday
Japan – Tokyo CPI for January
Japan – Exports, Imports for December
China – 1-Year Loan Prime Rate
BEA Domestic Auto Sales for December
France – Consumer Confidence Survey for January (2:45 a.m.)
Eurozone – M3 for December (4 a.m.)
Personal Consumption Expenditure for December (8:30 a.m.)
Personal Income for December (8:30 a.m.)
Michigan Consumer Expectations, Current Conditions, and Sentiment (Final) for January (10 a.m.)
Pending Home Sales for December (10 a.m.)
Baker Hughes Rig Count Data (1 p.m.)
CFTC Commitment of Traders Report (3:30 p.m.)