This morning, the S&P 500 Index e-mini futures (ES-M1) are soaring sharply higher by 9.25 points per contract. Traders and investors are bidding the market higher after the Federal Reserve Chairman Ben Bernanke said that more accommodative policies will be needed to help the labor market in the United States. Last week, several Federal Reserve Bank presidents just said that more stimulus will hurt the economy by causing excessive inflation. Oh well, gold is soaring higher this morning and that is usually the best indicator of inflation in the marketplace. The PowerShares DB Gold Double Long ETN (NYSEARCA:DGP) is trading higher by nearly 2.00 percent to $53.79 a share before the opening bell. Other inflationary sensitive equities such as the ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), BHP Billiton Limited (NYSE:BHP), and Rio Tinto plc (NYSE:RIO) are all climbing higher before the opening bell.
Last night, most of the leading Asian markets finished flat. The one standout was the Sensex Index (India) which closed lower by 1.78 percent. Should the U.S. markets come under some selling pressure today traders can expect the Indian ADR's to follow. If the U.S. markets remain strong during the day the Indian ADR's will likely hold up fine. Some leading Indian ADR's that could be in play today include Tata Motors Limited (NYSE:RIO), and Infosys Ltd ADR (NASDAQ:INFY).
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Bernanke Bounce
Published 03/27/2012, 03:32 AM
Updated 07/09/2023, 06:31 AM
Bernanke Bounce
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