Stocks Higher Before Inflation Data, Building Permits, Fed Statement

by devteam December 16th, 2009 | Share

Another busy day awaits markets as the Federal Open Market Committee concludes its final monetary policy meeting of the decade. 

Ahead of new Fed statements markets are often cautious but this morning, two hours before the open, risk is firmly on the table. The Dow looks to open 36 points higher at 10,434 and futures on the S&P 500 are up 5 points to 1,109. The return of risk is likely a reaction to the positive industrial production numbers yesterday as well as data from Europe showing the continent's service sector is at a two-year peak; alongside services, manufacturing has expanded for 10 straight months, fresh data showed today.

Meantime, the US dollar is weaker against an array of currencies, while WTI Crude oil is up 54 cents to $71.23 per barrel and Spot Gold is $9.30 higher at $1,134.50.

Key Events Today:

8:30 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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