It is a quiet day in the markets
this morning. What would normally be
drama because of the Federal Reserve meeting is absent. There is little anxiety this time because the
dominant view is that nothing substantial will come since the Fed is in the middle
of a leadership change. Federal Reserve nominee
Janet Yellen has yet to be confirmed but it is widely assumed that her
nomination will occur without major opposition.
Profit reports came in mostly positive yesterday extending the trend of
the last couple of weeks. Markets are up
slightly. A day or two of consolidation
after record highs might be expected and could be healthy for this market. Gold is up and oil is down. Interest rates are stable.
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