Reply #37: Nice little jump, but faltering [View All]

[Maeve]

Dow 11,042.56 +14.17 (+0.13%)
Nasdaq 2,272.80 +10.63 (+0.47%)
S&P 500 1,278.07 +2.54 (+0.20%)
10-Yr Bond 45.92 -0.22 (-0.48%)

10:30 am : The market is exhibiting a modestly positive bias following the release of Fed Chairman Bernanke's prepared text for the House Financial Services Committee. The text reiterates Bernanke's desire to maintain continuity with the practices employed by the Fed under Alan Greenspan. Moreover, he conceded that he concurs with the Jan. 31 directive that noted some further policy firming may be necessary, but he also acknowledged that it is clear substantial progress has been made in removing monetary policy accommodation. Nonetheless, he maintains that monetary policy actions will be increasingly dependent on incoming data. While the initial response by the market has been positive, it is too early to say if there is much conviction behind it, as he hasn't said anything to offer a clear sense of exactly when the tightening action will stop

And thanks to my other "secret admirers" for the hearts! :loveya: