U.S. market futures were fractionally higher in pre-market trading this morning, with the S&P 500 and Nasdaq contracts trading about one point above fair value.
President Barack Obama is set to renominate Federal Reserve Chairman Ben Bernanke to another term, and will announce his decision this morning. Fed watchers believe continuity in that office will help markets remain calm, as more questions are raised about the Fed's ability to withdraw its numerous programs aimed at restarting the economy before inflation becomes a problem.
The market also awaits data on Consumer Confidence and the Case-Shiller Home Price Index, both of which will be released later this morning.
James Cullen edits and writes at CollegeAnalysts.com.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
Reader Comments (Page 1 of 1)
8-25-2009 @ 9:41PM
James Raider said...
Just checking: Is this the same Bernanke who threatened Congress with economic destruction just one week ago? Why are we believing Wall Street’s PR?
Obama lauds and promotes Bernanke, but then he doesn’t know any better. Neither did Bush.
Some serious change is needed on “Wall Street.”
http://pacificgatepost.com/2009/08/america-end-your-fear-of-wall-street.html