Futures up this morning as good things are expected from Bernanke’s speech on monetary policy today. The rumor is that he’ll announce, again, that the Fed stands ready to address any and all liquidity or economic problems. Following Bernanke at 10am, GWB speaks at 11am on “a number of initiatives and reforms intended to help homeowners with subprime mortgages keep their homes.”
Further, core PCE was up only 0.1% for July, which was lower than the expected 0.2% gain. Thus the year-over-year increase in what amounts to the Fed’s favorite inflation measure is only at 1.9%.
DELL reported good numbers. Oil spiked up over $74. 10 year note yields 4.56%.
Rockbay News: FDC deal could close as early as Tuesday according to dR, IFX reaches terms with CFO on termination,
Vito’s Trivia: Last beverage question – Name the top 5 coffee drinking countries, per capita.
Yesterday’s Answer: Wine consumption, per capita – 1) Italy 2) France 3) Switzerland 4) Austria 5) Denmark. USA is 14th.