Almost every trader and investor will be waiting patiently for the Federal Open Market Committee(FOMC) interest rate decision, that announcement is expected to be released this afternoon. The Federal Reserve Bank Chairman, Ben Bernanke, will hold his second press conference after the Fed funds rate decision is announced.
Oxen Group Nightly - June 20, 2011 - Stock Market Recap
Oxen Group Nightly - June 16, 2011 - Stock Market Recap
Oxen Group Nightly - June 14, 2011 - Stock Market Recap
Oxen Group Nightly - June 7, 2011 - Stock Market Recap
It seems much that is being written of late is focused on negative data points that attempt to rationalize why a correction is just around the corner. I get the sense the stock market's (Dow Jones Industrial Average) 30+% advance since early July is weighing on strategists' and investors' minds as not being sustainable. Certainly a pullback would be healthy for the markets.
Oil prices have played the part of horror movie monster for most of 2010 and 2011. They rise and chase the economy around a bit, and then fall some when the economy fights back with lower demand. They are then slain by the heroes, including last week, when they dropped to under $100 a barrel.
UK economy 'on a plateau' as 0.5pc GDP rise disappoints
Every trader that I know is talking about the FOMC meeting tomorrow. This is when the Federal Reserve Bank Chairman, Ben Bernanke, is scheduled to give his first ever press conference after an interest rate decision. The market this afternoon is betting that Helicopter Ben is going to keep the money pump flowing. As we all know the Fed's quantitative easing program (U.S.