(As of 7:17 am PST)
It’s a quiet start on Wall Street as investors await
release of the Fed’s recent FOMC minutes.
Economists and investors will be scouring the minutes from the June
18-19 meeting, looking for clues on the Fed’s tapering timeline and its
process for unwinding its large scale asset purchase program, known as
QE3. After release of the minutes, Fed
Chairman Ben Bernanke will be speaking at a conference for economists on the
history of the Federal Reserve. After
the conference Bernanke will be holding a Q&A, where his own monetary
policies will likely be front and center.
In international news, Asian markets finished mixed after a report on
Chinese trade data showed an unexpected decline in Chinese exports. European markets are lower ahead of the Fed’s
minutes. Gold continues to trickle up,
adding 0.5% while interest rates are also higher, with the 10 yr. treasury
yield at 2.66%. It looks to be a quiet
morning, with all 3 market indexes looking to hang on to multi-session winning
streaks.
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