Tuesday, January 26, 2010

The Market On Tuesday

At 8:00 a.m. futures are slightly down, oil is down, and the dollar is up.

The financial journalists are playing more on the side of pessimism among investors and renewed volatility in the markets.

Among the list of investor concerns are Bernanke's reappointment, China's insistence that their banks increase their reserves, corporate earnings versus expectations, and several of the usual suspects such as home prices, sales, and unemployment.

The Fed is meeting again this week and all expect to see the near zero inter bank lending rates remain at zero percent.

Wall Street has the flu.

CNN: Stocks poised to pull back
Uncertainty over whether Fed chairman Ben Bernanke's term will be renewed continues to hang over markets.
Reuters: Stock futures fall on China lending clampdown
The Case/Shiller home price index for November is expected to show a rise of 0.1 percent versus October, but a 5 percent decline from a year ago.

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