This morning, the S&P 500 Index e-mini futures (ES-U2) are trading higher by 1.75 points to 1352.25 per contract. The major stock indexes have been in rally mode as many investors and traders expect the Federal Reserve bank to implement another quantitative easing plan. The majority of market participants are waiting for the central bank to devalue the U.S. dollar in order to inflate asset prices. We shall all see soon enough as the FOMC meeting ends today. The Federal Reserve Bank Chairman Ben Bernanke will release his policy statement at 12:30 pm EST. Later in the afternoon, Chairman Bernanke is scheduled to hold a press conference at 2:15 pm EST.
Traders and investors will be watching gold closely today. If the central bank announces another quantitative easing gold could be in play. Some leading equities that could rally if a QE-3 is announced will be ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), Deutsche Bank AG DB Gold Double Long ETN (NYSEARCA:DGP), Sprott Physical Gold Trust (NYSEARCA:PHYS), and the Market Vectors ETF Trust (NYSEARCA:GDX). These same equities could face declines is the Federal Reserve Bank does not take any new action.
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All Eyes On The Bernanke Policy Statement
Published 06/20/2012, 01:52 AM
Updated 07/09/2023, 06:31 AM
All Eyes On The Bernanke Policy Statement
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