Wall Street and in particular the equities indexes made some outstanding gains over the last week. Investors liked what they saw in fourth quarter reports and key economic data.
This week Bernanke goes before Washington and talks about the economy's condition. Investors want to hear about the key point which is will the Fed keep its lending rates at the next to zero interest lending bonanza. This cheap fluid money has been used to heal the wounded. Its been used to gobble up cheap equities, boost the indexes, and consequently make scads of dough.
Who wouldn't want that to continue forever especially since we are languishing in the DOW in the modest 10K realms. Higher realms dangle profoundly jeweled carrots.
So Bernanke will talk. Odds are he's going to be all bully ho, and so one might suspect we maintain or possibly gain.
Our jobless recovery moves forward.
Reuters: Bernanke, retailers hold key for stocks
Bernanke's semiannual testimony on monetary policy before congressional panels next week takes on an even more important dimension as investors look for clarity on the Fed's intentions and how Bernanke sees the recovery progressing.
Earnings from major retailers, including Home Depot Inc, Target Corp and Macy's Inc will also be in the spotlight, along with key economic data...
"The macro trends are all moving in the right direction."
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