Janet Yellen gave her first speech on monetary policy today (Wednesday) since assuming her position as chair of the U.S. Federal Reserve on Feb. 3, 2014.
While cautioning that the economy still needs the central bank's support, Yellen stated that the nation's economic recovery will be nearing completion within two years.Get the full text of Janet Yellen's speech here.
The Dow Jones Industrial Average Ends Week on a Bullish Note
At the closing bell, the Dow Jones Industrial Average declined slightly by 0.19% to close at 16,300.45; for the week ending today (Friday), March 21, 2014, the Dow gained 1.45%, or 232.83 points.
The S&P 500 hit an intraday all-time high before falling to close down 0.29% at 1,866.60. The Nasdaq fell 0.98% to finish at 4,276.79. Silver prices recovered after a tough response from the Federal Open Market Committee (FOMC) meeting on Wednesday.
Here's a recap of today's top stock market news.To continue reading, please click here...
Post-Market Report: Dow Jones Industrial Average Soars on Philly Fed Manufacturing News
The markets roared today after the Philadelphia Federal Reserve announced better than expected news in its area manufacturing figures.
At the closing bell, the Dow Jones Industrial Average rose 108.88 points to finish at 16,331.05. The Nasdaq increased 11.68 points to finish at 4,319.29, while the S&P 500 added 11.24 points to close at 1,872.01.To continue reading, please click here...
Today's FOMC Meeting: Data-Dependent and Dovish
The end of today's Federal Open Market Committee (FOMC) meeting included fresh dovish language in its policy statement - but the market-friendly attitude failed to excite investors who were hoping for more.
As widely expected, the U.S. Federal Reserve announced it will stay the course on its bond tapering. Anticipated - but not as expected - the policy statement shed some light on eventual interest rate hikes.To continue reading, please click here...
Dow Jones Industrial Average Falls After Yellen's First FOMC Meeting
The markets crumbled today after the Federal Open Market Committee (FOMC) indicated a dovish approach to economic policy. At the closing bell, the Dow Jones Industrial Average fell 114 points to finish at 16,222. The Nasdaq slumped 25 points to finish at 4307, while the S&P 500 lost 11 points to close at 1860.
The FOMC moved the goal posts on Wednesday, altering its view of when the central bank should raise interest rates. At its first meeting with new Chair Janet Yellen at the helm, the committee elected to trim its asset-purchasing program (quantitative easing) by another $10 billion to $55 billion per month.To continue reading, please click here...
Today's FOMC Meeting Preview and Stock Market Report
Today's stock market report, Mar. 19, 2014: The Dow Jones Industrial Average rose 0.55% on Tuesday to finish at 16,336.19. The S&P 500 added 0.72% to end the day at 1,872.25, while the Nasdaq jumped 1.25% to close at 4,333.31.
U.S. stock futures are up this morning as markets remain calm but guarded over Russian President Vladimir Putin's assurances on future intervention in Ukraine. Nonetheless, global markets were up and down ahead of today's Federal Open Market Committee (FOMC) meeting announcement at 2:30 p.m. EST.To continue reading, please click here...
Janet Yellen Testimony: Key Takeaways as Fed Stays the Course
What stands out most from the Janet Yellen testimony Thursday to the Senate Banking Committee is that her remarks mirrored comments made on Feb. 11 in her first monetary policy testimony to a House panel.
Speaking on Capitol Hill about the Semiannual Monetary Report, Yellen repeated that the central bank is likely to maintain its approach of progressively trimming asset purchases. The taper will continue even as policy makers monitor data to determine if the recent spate of soft economy data is temporary or something more serious.To continue reading, please click here...
The Five Most Ridiculous Revelations from the Fed Hearings
On Friday, the U.S. Federal Reserve released the transcripts from its vital meetings over the state of the U.S. economy from 2007 through 2009.
The transcripts provide a staggering glimpse into the world of a central bank in crisis, or at least the inability for all parties concerned to grasp the problems at hand.
Here are the five most ridiculous takeaways from the Fed Reports.To continue reading, please click here...
Today's Biggest Stock Market News
With our eye on the opening bell, here are five stories to watch in the stock market today:
Market News, Jan. 30:To continue reading, please click here...
- FOMC Meeting Today: How the Taper Is Affecting Markets The Federal Reserve went forward with its taper plans yesterday, announcing it would reduce its bond-buying by $10 billion per month. But that is no guarantee the Fed will continue to taper, especially if the economy falters. And now that the Fed has a new chief in Janet Yellen, we could be in for some surprises this year...
FOMC Meeting Today: What to Expect as Bernanke Exits
As Bernanke sits in for his last meeting this week, we answered three of the most commonly asked questions our readers have been sending us about today's FOMC meeting and the possible outcomes:To continue reading, please click here...
- Today's FOMC Meeting Minutes: Plan? What Plan? Now that we have the minutes from the Fed's December policy meeting, we can figure out what they have in mind for 2014, right? Unfortunately, no. In fact, Money Morning Chief Investment Strategist Keith Fitz-Gerald thinks the FOMC members are "making it up as they go along." But that's no excuse for investors not to have a plan...
- Why the Fed Meeting Today Ended in a Taper The Federal Reserve shocked everyone when it announced it would taper its $85 billion-a-month bond-buying program by $10 billion starting in January. Even more shockingly, the markets soared on the news despite months of taper anxiety. It only makes sense when you look at everything the Fed had to say. Here's why Wall Street is so thrilled, and what January's "taper" really means...
FOMC Meeting Today: Why the Fed Won't Taper
Fed-watchers are pretty sure they know what the word on a Fed taper will be when the official announcement comes following the Federal Open Market Committee (FOMC) meeting today and tomorrow (Wednesday)...
Wait a while longer.
While the U.S. Federal Reserve has hinted several times in the past six months that it is considering cutting back on its monthly purchase of $85 billion in bonds and mortgage-backed securities (known as quantitative easing, or QE), most expect no Fed taper in the immediate future.To continue reading, please click here...
- Fed Meeting Today: Five Big Questions Answered Today we find out whether the Federal Reserve's policy-setting group, the Federal Market Open Committee (FOMC), plans to start tapering its monthly bond-buying program of QE, or keep the printing presses running well into next year. Both options have their drawbacks, and the implications for the markets are huge. Here's what you need to know...
FOMC Meeting This Week Will Benefit This Currency Trade
There is nothing more volatile on the currency calendar right now (or on any financial calendar for that matter) than the Federal Open Market Committee (FOMC) meeting this week.
This is going to be followed by what is expected to be Ben Bernanke's last press conference as the Fed Chairman before his anticipated retirement in January 2014.
And let me tell you: Someone is going to be surprised this week. The good news is, surprises create volatility. Volatility creates price action. Price action creates profits.To continue reading, please click here...