Ahead of Opening Bell
U.S. stock indexes were slammed yesterday with the largest one day lost for the month of June.
U.S. stock indexes were slammed yesterday with the largest one day lost for the month of June.
U.S. markers end the day yesterday mixed on the Federal Reserves’ extension to year end for Operation Twist and the lowering of GDP forecast. Futures today are suggesting continued red ahead of the bell.
Will the trend continue in U.S. markets? Each time the S&P 500 [stock ^SPX] began the week down 1% or more such as yesterday the U.S. markets closed the week out lower 5 out 6 times.
U.S. traders are coming off the best week thus far in 2012. The EU announcement of a plan to bailout Spanish banks is helping to continue the market drive into the start of the new trading week.
Breaking News – U.S. Futures
Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. While inflation rates are likely to stay above 2% for the remainder of 2012, over the policy-relevant horizon we expect price developments to remain in line with price stability. Consistent with this picture, the underlying pace of monetary expansion remains subdued. Inflation expectations for the euro area economy continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2% over the medium term
S&P fair value is at +4.50. NASDAQ fair value is +7.00. The Dow posted it’s 11th out of 12 trading loss while the S&P 500 posted its 10th out 12 trading loss yesterday setting up the U.S. markets for
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