What a day to be a trader. The Dow and S&P settled at all time highs today as Big Daddy announced they'll keep the spigot wide open. Crude oil stepped up on a much larger drawdown than expected. Actual -4.368M vs expected -1.2M. At the afternoon press conference Mr Bernanke also gave some guidance on what Big Daddy will be watching before the taper begins: Employment, low inflation/deflation, and rising mortgage rates.
7:30 AM CT
Initial Claims Forecast 335K Prior 292K
9:00 AM CT
Existing Home Sales Forecast 5.15M Prior 5.39M
Philly Fed Forecast 8.5 Prior 9.3
Leading Indicators Forecast .5% Prior .6%
This is the last set of numbers for the week. Claims although always volatile and always adjusted could whip things up if out of line. Today the markets may be a little hung over from the party Wednesday but a bull run is fun to watch if you can keep it going. We'll also be watching the kids in congress as the brinksmanship bluster heats up. Two weeks to shutdown and just over a month to reach the debt ceiling.
Trade well and enjoy the ride.