At 7:50 a.m. futures are significantly higher, the dollar is down, and oil is up. The trifecta for the market to rise at the opening bell is presently in place. Things can change.
Investors will be looking at data on new home sales. It is hard to imagine that this data will be glowing. This does not seem to be a strong buying period even though money is cheap right now. Mortgage rates are ridiculously low.
Friday is still the day of reckoning. People are anxiously awaiting to hear Bernanke tell the world how the American economy will move forward and what the Fed plans to do to make that movement occur.
CNN: Stocks headed for a strong open
...a slight improvement in Chinese manufacturing helped boost markets around the globe.
Investors will get the Commerce Department's new home sales report at 10 a.m. ET.
2 comments:
Ben only cares about feeding Wall st. He's failed to stop the Depression for everyone else out here. How ironic that this man who spent a good part of his academic life as an expert on the Great Depression has utterly and completely failed to learn any of its lessons. When given real power he quite simply has done nothing but make things worse for millions , while garnishing the bank accounts of a few thousand already uber wealthy people.
If you could be in Bernanke shoes, what would you do? This is what is interesting to me. As far as I can see Bernanke has one objective - to keep Wall Street rolling, even the news indirectly points this out.
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