We have to look at the minutes and the question-answer portion of his presentation that he gave a couple of hours later in Boston as part of the NBER summer institute separately, says Brian Jacobsen, Chief Portfolio Strategist at Wells Fargo Fund Management. When it comes to the minutes, there are two important things to look into. First, they were …
Fed Pushes Jelly Back In The Donut—SPX Rallies To New Record
[Chart courtesy of MarketWatch.com] A day after Chairman Ben Bernanke said the Federal Reserve will keep a loose monetary policy for some time to lower the unemployment rate, U.S. equity markets advanced to record highs at the close of Thursday’s session. Apparently, we must have misunderstood Bernanke’s previous remarks of tapering, as he has now successfully pushed the jelly back …
Volatile Session Thanks To Fed’s Minutes
[Chart courtesy of MarketWatch.com] U.S. equity indexes ended this volatile session on a mixed note, after the release of the minutes from the Federal Reserve’s June policy meeting created uncertainty over when and if the central bank will start to trim the stimulus. Attention shifted to focus on the speech by Chairman Ben Bernanke to begin after the closing bell. …
Major Index ETFs Hit Four In A Row Ahead Of Fed’s Minutes
[Chart courtesy of MarketWatch.com] U.S. equities moved higher for a fourth-consecutive day on Tuesday amid optimism companies will report better-than-forecast earnings for the second quarter after Dow member Alcoa bested the Street’s earnings forecasts. Investors are betting that companies will be able to surpass the low bar set for earnings season, leaving room for better-than-expected results that could drive the …
Bulls In Charge For 3rd Day—S&P 500 Nears All Time High
[Chart courtesy of MarketWatch.com] U.S. equities began today on a positive note, as last week’s upbeat U.S. labor report along with the start of corporate earnings season fueled increased optimism about growth in the world’s largest economy. It helped ease concerns about rising interest rates and the increased likelihood that the Fed will begin tapering its asset purchases. Stocks registered …
Bulls Remain In Charge Despite International Turmoil
[Chart courtesy of MarketWatch.com] The major U.S. equity averages finished the shortened trading session due to tomorrow’s Independence Day to the upside. The U.S. stock market closed at 1 p.m. today. It will reopen on Friday for a full session. Wednesday was a volatile day as traders squared positions before the holiday and Friday’s job market data. Stocks began on …