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Post: Tuesday - Walking a tightrope. | Daily Delphi

BlogsPit Talk › Tuesday - Walking a tightrope. February 11, 2014, 6:50 am

TODAY'S ACTION
9:00 AM CT
JOLTS - Job Openings for Dec
Prior 4.001M
Wholesale Inventories for Dec
Prior 0.5% Forecast 0.6%
Humphrey Hawkins Testimony

Today traders will be listening to the semianual Fed monetary policy testimony before congress. This marks the first time that new Federal Reserve Chairwoman Janet Yellen will be delivering the testimony. Her prepared remarks will be released at 7:30 AM CT and the question and answer portion will begin at 9:00 AM CT. The markets have spent the last few trading sessions trying to weigh how last weeks mixed bag of economic reports will affect Big Mama's plans for reducing stimulus. The wheels are already in motion and there isn't much reason to expect a change at this point but her dovish history has given traders hope that she'll at least leave the door open to pulling back if things don't get better soon. Trade strong

MONDAY RECAP

Equities were quite yesterday in anticipation of today's Humphrey Hawkins testimony to be given by Janet Yellen. All three indexes ended up for the day on subdued trade. Meanwhile gold and silver extended their longest rallies since since August of last year. Gold settled up +11.8 closing at 1274.7 and silver climbed +.18 to close at 20.11.


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