Market getting a lift after a series of decliners and ahead of Janet Yellen’s 2-day visit to Capitol Hill. The eyes of the world will be hyper-focused on her testimony in attempts to garner any insight as to how the Fed will treat monetary policy in this turbulent environment. The Presidential election is heating up as the 2 anti-establishment, populist candidates ran away with a victory in New Hampshire. In isolation, it means very little, but the movement is clear around the country. Americans are tired of status quo in DC. Next up, South Carolina. Crude is catching a bid, but WTI remains below $30. The Dollar has actually weakened quite a bit of late, as expectations for more rate hikes have been curbed. Interest rates have fallen big time again, with the 10-Year Treasury yield at 1.73%, the lowest in a year. Anyone need a re-fi? Earnings continue to be a mixed bag. Disney reported a record Qtr, but the Street doesn’t care. Today will be all about the Fed.
Have a great day.
Mike
