The market is short-term bullish given that ultra-short-term indicators just hit climactic readings as price is starting to come out of a bottom, and there was the execution of the bullish double-bottom pattern. The apple cart could be upset if the Fed announces tapering or ending its bond buying program tomorrow after its meeting.
The S&P 500 closed up 0.78% and the Dow was higher by 0.91%. Higher beta stocks outperformed safety and the advance was broad based today. The most frequently cited “reason” for the advance was that the Fed Chairman was going to not be hawkish regarding QE tomorrow.
The backdrop for today’s market action is the start of the countdown to the Fed announcement and Bernanke news conference on Wednesday afternoon as the two-day FOMC meeting gets underway today.
India’s relentless search for hydrocarbons to fuel its booming economy has managed the rather neat diplomatic trick of annoying Washington...
Away from Europe the US continues slowly to adjust but I worry that this adjustment will be derailed by a weaker external sector.
Last week Detroit outlined its plan for necessary financial restructuring in bankruptcy. The emergency management team reviewed the cities public pension plans...
Whistleblower Edward Snowden needs to disappear if he is to avoid kidnapping, assassination, extradition, or deportation to the United States. If you’re ever faced by a situation in which you need to disappear, right away, what would you do?
Our Magnificent Seven of Grains are perhaps not as exciting as those in the Seven Samurai or the cinematic classic The Magnificent Seven(Yul Brynner, 1960), but they are also essential to the survival of the world “village.”
In this third part, we look at how credit comes into existence (via arbitrage, of course) with legitimate entrepreneur borrowers.
The S&P 500 rose by 0.76% and the Dow was higher by 0.73%. Stocks started the week strongly after declining Friday. The major averages were up over 1% in the morning session.
Sponsored
