Investors Cautious Ahead of Fed Meeting; Stocks Move Lower

The markets have moved lower off the open ahead of this afternoon's Fed meeting.  Investors are remaining on the cautious side.

Toyota Motor (TM | Quote | Chart | News | PowerRating) posted a 9 percent rise in 4th quarter profit.  For the January to March period, Toyota became the world's top auto maker in terms of total world-wide vehicle production and sales, overtaking General Motors (GM | Quote | Chart | News | PowerRating) for the first time ever. 

Homebuilder Toll Brothers (TOL | Quote | Chart | News | PowerRating) reported that contracts fell 25% in the second quarter.  Toll also lowered earnings guidance for full year 2007.

Shares of mining stocks BHP Billiton (BHP | Quote | Chart | News | PowerRating) and Rio Tinto (RTP | Quote | Chart | News | PowerRating) are trading higher on takeover speculation.  

For more stocks to watch, see TradingMarkets 7 Trading Ideas for Today.

Our PowerRatings Heat Map remains on the bearish side as the market continues to hold near highs.  Taking long positions at this point may hold more risk.  The weakest sectors today are Transportation, Metals/Mining, Manufacturing, and Energy.  The Drug sector has the most high PowerRated stocks and also quite a few low PowerRated stocks.  Let's take a closer look at the Drug sector:

Today's featured list comes from our PowerRatings Nasdaq 100 List.  Also, check out the PowerRatings for the Dow 30 and S&P 500 Indices.