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Is The Federal Reserve Going To Cut QE-3?

ByNicholas Santiago
Published 05/13/2013, 10:19 AM
Updated 07/09/2023, 06:31 AM

This morning, the S&P 500 Index e-mini futures (ES-M3) are trading lower by 2.75 points to $1626.75 per contract. This past Friday, the Federal Reserve's main reporter Jon Hilsnerath wrote an article about when and how the central bank will start to cut its current quantitative easing program. This particular article was rumored to be released on May 9, 2013 which caused a sharp late day sell off in the S&P 500 Index. Today, the markets seem to be handling the news from the article much better as it was released over the weekend. Either way, any scaling back in the central bank's easy money policy could disrupt the current rally in stocks.

Last night, the leading Asian stock markets were mixed by the end of the session. The Nikkei 225 Index (Japan) was the big winner closing higher by 1.19 percent. The Bombay Sensex Index (India) was the biggest loser finishing lower by 1.95 percent. Traders should watch for early weakness in the leading Indian ADR's such as Tata Motors Ltd. (ADR) (TTM), Infosys Ltd. (ADR) (INFY), Wipro Ltd. (ADR) (WIT) and the India Fund Inc. (IFN).

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