EIA report was not kind, oil keeps a bid and stocks lose support. All major averages are now trading below their 10 DMA's.
Futures traders look for weekly S1's to get hit at some point: NQ 1769, ES 1410.75 and YM 12305.
NEW YORK (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday uncertainties surrounding the U.S. economic outlook have increased somewhat recently, and that future Fed decisions will depend on what happens to both inflation and economic growth.
KEY POINTS: - "To date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing in core inflation," Bernanke said in testimony prepared for delivery to the congressional Joint Economic Committee. - "The near-term prospects for the housing market remain uncertain," he said, adding that developments in the subprime mortgage market had raised additional questions about the housing sector.
Futures traders look for weekly S1's to get hit at some point: NQ 1769, ES 1410.75 and YM 12305.
NEW YORK (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday uncertainties surrounding the U.S. economic outlook have increased somewhat recently, and that future Fed decisions will depend on what happens to both inflation and economic growth.
KEY POINTS: - "To date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing in core inflation," Bernanke said in testimony prepared for delivery to the congressional Joint Economic Committee. - "The near-term prospects for the housing market remain uncertain," he said, adding that developments in the subprime mortgage market had raised additional questions about the housing sector.
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on Wednesday, March 28, 2007 at 3/28/2007 10:42:00 AM.
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