Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Stocks zigzag ahead of noon Bernanke speech

Stocks have been zigzagging at opening and are trading slightly up ahead of an important speech by Fed Chairman Ben Bernanke, during which some believe he may telegraph a sooner-than-expected hike in interest rates.

In the first 20 minutes of trading, the Dow is up one-third of 1 percent.

The broader S&P 500 is nearly four-tenths of 1 percent and the tech-heavy Nasdaq is up nearly one-third of 1 percent.

Bernanke speaks today at noon before the Economic Club of Washington.

It's a pretty light day in terms of amount of economic data coming out but not light in the importance of the data. At 3 p.m., the Fed will release the October consumer credit report, showing how much Americans borrowed in that month. Forecasters expect the number to drop for a ninth straight month.

-- Frank Ahrens
Sign up to get The Ticker on Twitter

By Frank Ahrens  |  December 7, 2009; 10:00 AM ET
Categories:  The Ticker  | Tags: Ben Bernanke, Dow Jones, consumer credit, nasdaq, s&p 500  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Truer U.S. unemployment rate drops to 17.2%
Next: Black teen unemployment rises to nearly 50 percent

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company