(As of 7:20 am PST)
Stocks are slightly higher today after Friday’s rally
surprised investors. It’s a very quiet
day which has investors paying particularly close attention to the final three
Fed speeches of the month before the December 17-18 policy meeting. The Fed presidents of Richmond, St. Louis,
and Dallas are set to speak today, providing the Fed its last chance at a
coordinated communication effort of its plans to begin tapering asset purchases
before the end of the year. Investors
will be keying in on any clues that the taper will begin out of the Dec. meeting. In other news, budget negotiations in
Congress seem to be moving along with a chance of a deal being struck before
year-end. In Europe, markets are mixed,
while Asian markets finished the day higher after a surprise beat on Chinese
export data. Gold is higher by 0.5% and
oil is down below $97.50 per barrel.
Interest rates and the US dollar are also down. It looks like a quiet day and week is shaping
up barring any surprises from today’s Fed speeches.
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