Federal Reserve Chairman Ben Bernanke told lawmakers, that further impetus may be required, if the US economy to win not dynamic in Washington, Wednesday, triggering a morning rally, the most important indexes to better than 1% was.
The Chairman comments showed no deviation of the Federal open market Committee June minutes Tuesday, which showed that members discussed further stimulus, but also an exit strategy from extremely accommodative fed policy published mulled wine. This two-pronged approach - understandable given the recent slowdown of the economy - was glossed over Wednesday as the market at the chance, QE3 seized and facilitates the sting of the recent weakness.
An hour after noon was the Dow Jones industrial average up 133 points to 12,580 that 14 points to 1,328 and the NASDAQ 39 points S & P 500 on 2,821. Financials were able, participants in the March with JPMorgan Chase and Citigroup to better than 2% higher per piece. The pair currency option transactions result Thursday and Friday, respectively.
John Richards, head of Americas strategy at RBS, QE3 is also after a dreary June jobs report still unlikely, but that can change. The economy needs to move further boost by the fed off the table, "an immediate reversal in momentum," says Richards, which still a robust second half expected is an eye on data as instruments of production and automatic production for signals on the direction tilt the scale.
All Bernanke has on Wednesday, the door was left open the possibility the QE3 and the market is reacting with "So you say, there is a chance." Where have we heard that before?
No comments:
Post a Comment