April 23, 2010
U.S. equity markets are called higher this morning. After selling off early in the trading session, global stock markets turned positive after Greece announced that it
was going to activate the loan mechanism proposed by the EU/IMF. This triggered renewed demand for risk as it temporarily took a major investor concern off the table. Trading conditions could be
volatile today as details of the bailout plan are released throughout the day.
Yesterday President Obama’s speech on government regulation was not as harsh as traders expected. This helped turn the market around late in the session after an early
profit-taking setback. The Greek developments overnight have calmed the markets somewhat meaning earnings and economic news may carry more weight today.
Durable Goods gets reported today. Traders want to see if this report reflects renewed consumer spending. At 9am CDT, New Home Sales will be reported. On Thursday,
existing home sales helped contribute to the rally. Today traders want to see if a trend is developing in the housing market.
Yesterday’s …
