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Markets Rise Before Another Bernanke Speech

ByNicholas Santiago
Published 10/01/2012, 01:07 AM
Updated 07/09/2023, 06:31 AM
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This morning, the S&P 500 Index e-mini futures (ES-Z2) are trading higher by 6.00 points to 1440.25 per contract. The catalyst for this early gain in the stock market futures comes as the U.S. Dollar Index declines. The other catalyst is that the Federal Reserve Chairman Ben Bernanke will be giving a speech to the Economic Club of Indiana at 12:30 pm EST in Indianapolis, Indiana.

Many investors and traders are expecting to hear more details about the latest quantitative easing program that is being implemented by the central bank. All traders must remember, the markets will usually rise on any type of artificial inflation creation by the central banks. Lately, there have been a few central bank members that have come out against the current QE-3 program, however, Chairman Bernanke's comments overshadow everyone else in the Federal Reserve.

Earlier today, there was weak economic data released out of the European market. Greece is once again the focal point as they continue to negotiate for another bailout package. This Greek bailout has now been going on for nearly three years. All of this news in Greece comes as eurozone unemployment reached a new record high of 11.4 percent.

Believe it or not, despite the news the European markets are all trading higher today indicating very little fear in the marketplace. Some leading equities that could be volatile today include National Bank of Greece (ADR) (NYSE:NBG), Deutsche Bank AG (NYSE:DB), Bank of Ireland (ADR) (NYSE:IRE), and the CurrencyShares Euro Trust (NYSEARCA:FXE).

Below you may find the video.

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