Federal Reserve Chairman Ben Bernanke ignited another stock market rally and stocks ended last week near all-time highs. Traders will stay focused on Bernanke for at least the next week. All Eyes Will Stay On the Fed Last week, SPDR S&P 500 (NYSE: SPY) gained 2.75% as traders… Read More
Federal Reserve Chairman Ben Bernanke ignited another stock market rally and stocks ended last week near all-time highs. Traders will stay focused on Bernanke for at least the next week. All Eyes Will Stay On the Fed Last week, SPDR S&P 500 (NYSE: SPY) gained 2.75% as traders once again cheered the Fed’s easy money policy. This week, monetary policy should remain in focus as Bernanke makes his semi-annual visit to Capitol Hill. During the past month, the chairman’s words have sparked a sell-off (in mid-June) and a recovery (last week) in stock prices. It is unlikely he will add any new information about policy in his testimony, but his words will be scrutinized. A 30-minute chart of SPY shows the impact Bernanke had on prices last week. A speech after the close on Wednesday, where… Read More