At 9:20 a.m. ET the DOW is +3 and the price of oil per barrel is down. The market is poised to open in the flat area.
More testimony from Janet Yellen today, and that is usually a very salient piece or most salient piece of the puzzle. It's all about that base interest rate and consequently how cheap the flow of money is. I certainly enjoy the credit bargains where you can buy something and have 36 months to pay it off with 0% interest. That's not going to stay. And when the political volatility of this administration's hubris slides around more and more, then what? Well, the hope is always the same, i.e. that wiser minds prevail, and that the decent institutions in this country hold up.
CNN: Retailers go to Washington; Stocks set records; SoftBank spends by Alanna Petroff
On Tuesday, Yellen signaled in her testimony that the next interest rate hike could come as early as March.