Bulls Strike First This Week
US stock markets staged a big rally today, with the Dow adding 180 points, the S&P gaining 19, and the NASDAQ closing 38 points in the green. Although there were no big news announcements on the economic calendar (Trade Balance came in close to expectations), the market rallied nonetheless.
Bond yields were down again today, with the 10-year Note finishing at 4.36%. The big talk once again for both stocks and bonds is the magical date of September 18th when the Fed meets to discuss interest rates and the overall health of the U.S. economy.
Overseas, the Nikkei added .71% while the Hang Seng lost .2%.
Mike Tosaw, Director of Education
Economic Data Scheduled for Wednesday, September 12, 2007
(All times in U.S. Central Time)
U.S.
7:30 AM: USDA Crop Production and Supply/Demand Report
9:30 AM: EIA Energy Stocks Report
Great Britain
3:30 AM: Average Earnings Excluding Bonus for July (Consensus 3.5%)
Canada
None
European Union
4:00 AM: Industrial Production for July (MoM) (Consensus 0.2%)
Japan
12:00 AM: Household Consumer Confidence for August (Consensus 44.0)
