July 11th Watchlist
Futures are gapping up considerably this morning after a Q&A session from Bernanke in Boston concerning future QE policy. He stated that before any ‘tapering’ occurs with the current QE programs, unemployment must get down to 6.5%. Investors took this as basically a complete 360 from news earlier this month hinting at a slow down of QE programs starting as early as September. Off the backs of these comments, the indexes are pretty close to their all time highs that we hit on May 22nd.
Jobless Claims came out this morning at 8:30 AM jumping to a 2 month high. Expectations were for 344,000 and the number came in at 360K.
There will be some high profile earnings from the Financial sector tomorrow as Bank of America (NYSE: BAC) & Wells Fargo (NYSE: WFC) are set to report earnings. These events will surely set the tone for the underlying sentiment in the markets for the short-term as well as the sector itself.
Make sure to register now for this evening’s webinar! The Young Buck is going to interview Sang Lucci about this crazy Amazon trade last week!
GOOD MORNING YOUNG WORLD!