Thanks for your patience while I was traveling and away from my desk. I wish I could continue my work while on the road but it’s pretty difficult. While I love my I-pad, its not the same as my trading station… so I am glad to be back!
The Dow industrials led stock futures in an early rebound, as oil prices bounced, the dollar eased and markets looked toward the Federal Reserve’s rate policy decision this afternoon. Futures for the Dow Jones industrial average kicked up out of minor losses and 0.3% above fair value. Nasdaq 100 futures gained 0.2% and S&P 500 futures climbed 0.3%. Small caps outpaced the general action, with Russell 2000 futures ahead 0.4%.
The focal news item of the day, and the week, is the Federal Open Market Committee’s rate policy announcement, scheduled for 2 p.m. ET, and followed by a press conference with Federal Reserve Chair Janet Yellen, at 2:30 p.m.ET. The closely watched Empire State Manufacturing Survey and NAHB’s Housing Market Index are due out this morning. (Continue Reading)
Watch List: $MOMO, $ESNT, $VEEV, $RDN, $HQY