(INDEXSP:.INX) finished the day almost perfectly flat after some
After starting the day in a mild slump, stocks rallied after
the release of the FOMC minutes from the last Fed meeting, but
they quickly retreated.
While there wasn't anything particularly Earth-shattering in
the Fed's report, market participants remain torn about the
timing of the long-awaited tapering of the Fed's increasingly
controversial QE activities, and there was no additional clarity
given today. As a result, the market experienced a continuation
of its wholesale confusion, and stocks and US Treasuries both
sold off in reaction to the report.
In economics, wholesale trade came in lower than expected at
-0.5% versus the 0.3% consensus.
Crude inventories fell by 9.9 million barrels, sending oil
prices up 2.5% to $106.15. Gold finished the day up 0.2% after
wild swings throughout the day.
The Bank of Japan did not announce any major changes to its
monetary policy last night. The
(INDEXNIKKEI:NI225) finished the day down 0.39%. Europe finished
flat across the board.
Tomorrow's Financial Outlook
Publicly traded retailers will release their same-store-sales
numbers throughout the daytomorrow .
Initial jobless claims will be released at8:30 a.m. EDT
tomorrow morning. The consensus is to see initial claims of
US import and export prices will be released at 8:30 a.m. EDT.
Export prices are expected to see growth of -0.1%. Import price
are expected to come in at 0.1%. The Bloomberg consumer comfort
index will be released at9:45 a.m. EDTtomorrow . The US Treasury
budget will be released at2:00 p.m. EDT tomorrow afternoon.
Bank of The Ozarks Inc
Commerce Bancshares, Inc.
Grupo Televisa SAB
Washington Federal Inc.
(WAFD) will be reporting earningstomorrow .