Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (78762)	11/14/2012 6:45:37 AM
From: Smiling Bob	Read Replies (2) \| Respond to of 119362

In case you were wondering, the evening's future's baroque is being dedicated almost entirely to Ms Yellen The genii of the journalistic universe must feel they let down the fed diva, because her song was apparently lost in the breeze yesterday 50 dow points isn't exactly ovation-worthy, so don't expect the audience to wait for an encore. ------ Stock futures up on Yellen; retail sales awaited By Barbara Kollmeyer, MarketWatch MADRID (MarketWatch)—U.S. stock market futures rose on Wednesday, bucking persistent fiscal-cliff worries after Federal Reserve Vice Chair Janet Yellen backed a major change in the central bank’s communication policy, and results from tech giant Cisco Systems Inc. topped forecasts. Retail sales and producer price data, along with minutes of the latest Federal Open Market Committee meeting will be among the day’s highlights, along with a news conference by President Barack Obama. Click to Play Stocks fall to three-month low Concerns about the fiscal cliff and Greece's debt woes outweighed optimism about Home Depot's better-than-expected earnings report. Steven Russolillo has details on The News Hub. Photo: Reuters. Futures for the Dow Jones Industrial Average (CBOT:DJZ2) rose 56 points, or 0.4%, to 12,773, while those for the Standard & Poor’s 500 index (GLC:SPZ2) rose 7.1 points, or 0.5%, to 1,378. Futures for the Nasdaq 100 index (CME:NDZ2) gained 18 points, or 0.7%, to 2,578.50. In a speech on Tuesday, Yellen proposed linking the Fed’s zero interest-rate policy to a dual inflation and employment goal. Her backing is significant because she’s an influential member of the central bank and viewed as a top candidate to replace Chairman Ben Bernanke if he leaves his post in early 2014. Read: Fed's Yellen backs new way to give guidance The Fed has presently said it wants to keep rates low until mid-2015, but the new threshold proposed by Yellen would replace the “low for longer…” calendar outlook, said Steen Jakobsen, chief investment officer at Saxo Bank. “This is a major change in the sense that it is the first time the Fed’s management is fully endorsing it.” “You may have numerical targets which will give you the feel that the Fed will be having an easier policy for a longer period,” said Jakobsen. Among the day’s highlights, the minutes of the latest Federal Open Market Committee meeting of Oct. 23 are due for release at 2 p.m. Eastern time. Analysts said those minutes may provide more detail on policy options following the end of Operation Twist next month. Ahead of that, the government is expected to report a 0.1% drop in October sales when data is released at 8:30 a.m. Eastern, according to economists surveyed by MarketWatch. A large part of that is likely due to Hurricane Sandy, which shut down many East Coast businesses last month. Released at the same time, the October Producer Price Index is expected to show a gain of 0.2%. But strategists said the main focus for markets is U.S. budget talks and a clock ticking down to January when $600 billion in automatic tax hikes and spending cuts will kick in unless politicians reach a compromise. Obama, who is due to speak Wednesday, will meet with congressional leaders Friday to begin those talks. Media reports said he’s seeking $1.6 trillion in new tax revenue over the new decade, which is double the amount proposed during talks with GOP leaders that failed during negotiations in mid-2011. Read: Obama to seek $1.6 tln in new tax revenue: reports Wall Street stocks finished lower on Tuesday, with the Dow Jones Industrial Average (DJI:DJIA) closing down 58.90 points, or 0.5%, at 12,756.18, triggered by late-session selling. Fiscal cliff worries and losses for Microsoft Corp. (NASDAQ:MSFT) , on news of the departure of its Windows chief, overshadowed upbeat results from Home Depot Inc. (NYSE:HD) . Read: U.S. stocks finish lower on 'cliff' concerns On the corporate front, shares of Cisco (NASDAQ:CSCO) could get a lift after the network equipment maker provided a positive surprise with its results and forecast. Read: Cisco delivers positive surprise with results Earnings from Staples Inc. (NASDAQ:SPLS) , PetSmart Inc. (NASDAQ:PETM) and Williams-Sonoma Inc. (NYSE:WSM) are also on the calendar for Wednesday. Read: Big earnings on Wednesday: Staples, PetSmart European stock markets wobbled, weighed by U.S. debt worries, though strong corporate updates from Vivendi SA (EPA:FR:VIV) , and Telekom Austria AG (VIE:AT:TKA) helped out. Asia stocks edged higher. The dollar was a touch weaker.