This morning, equity markets look to build on a massive 2.4% gain in the Dow Jones Industrial Average
In overseas trading, Asian markets were mostly higher following news from China's central bank that they are lowering the country's benchmark interest rate by 0.25 percentage points. While the Nikkei and Hang Seng traded higher, China's primary index, the Shanghai Composite, traded slightly lower on concerns over decelerating growth in the country. European markets are broadly higher this morning following the rate cut, with the FTSE 100 index up 1.5% in recent trading.
Let's take a look at how U.S. futures markets are moving as of about 8 a.m. EDT this morning.
Gain / Loss
Gain / Loss %
|Dow Jones Industrial Average||61||0.5%||12,480|
Source: Yahoo! Finance.
While U.S. markets appear headed higher, we'll have to wait for one of today's largest events to unfold before knowing its final direction. Fed Chairman Ben Bernanke will be under the investor equivalent of an electron microscope when he addresses the Congressional Joint Economic Committee at 10 a.m. EDT this morning. His comments will be meticulously examined for any hints supporting or refuting the statements his Fed colleagues made yesterday. When Ben speaks, markets listen, so don't be surprised by any large swings in trading later this morning.
Moving away from the macro picture, let's take a look at some notable company-specific news making headlines.
Let the Map Wars Begin!
In company news, Google and Apple
Dude, where's my trade?
Nasdaq OMX Group CEO Robert Greifeld made news yesterday afternoon by offering an official apology for system malfunctions that contributed to a wealth of problems during the IPO of Facebook
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