While short-term traders may have been listening to Bernanke for news to spark a sharp rally in the equity indices, others may have picked up on his warning of another recession if Congress doesn’t reach an agreement soon to avert a budget crisis.
Since the Fed meets on July 31 and August 1, investors are encouraged to pay close attention over the next two weeks to economic reports since this same information will be used by the FOMC members to make their next decision on additional stimulus.
This week the talk of economic stimulus and planned moves by Iran in the Strait of Hormuz boosted prices of both of these commodities on Tuesday.
While bullish speculators are celebrating the return of the bull market to U.S. agricultural markets, consumers will likely feel this surge later in the year in the form of higher food prices, particularly meat and cereal.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 22nd, 2014 | John Ransom
In Other News: Bi-Partisan Agreement that Debbie Wasserman Schultz is a Horrible Person | Michael Schaus
In Other News: State Department Covers Up for Hillary – Asks IRS How to Destroy Hard-Drives | Michael Schaus