Stocks Higher, But Nervous
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Stocks are bid strong Tuesday morning following Monday's 600+ point sell-off in the Dow on the back of the S&P credit rating downgrade of the U.S. and cascading events from the move.
At 7:30, Dow Jones futures were up 161, and S&P 500 futures are up 20.
Trading has been very volatile and swings of a hundred points in a few minutes are not out of the question. Needless to say, traders are very defensive and are selling on any signs of weakness.
Today, Ben Bernanke and the FOMC will release their statement on interest rates. The market is looking for signs from Bernanke & Co. that more quantitative easing measures are being planned to stop the free fall.
Gold continues to surge and is up currently up $46.40 to $1758.
At 7:30, Dow Jones futures were up 161, and S&P 500 futures are up 20.
Trading has been very volatile and swings of a hundred points in a few minutes are not out of the question. Needless to say, traders are very defensive and are selling on any signs of weakness.
Today, Ben Bernanke and the FOMC will release their statement on interest rates. The market is looking for signs from Bernanke & Co. that more quantitative easing measures are being planned to stop the free fall.
Gold continues to surge and is up currently up $46.40 to $1758.
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