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Markets Await ‘Helicopter Ben,’ But May Be Disappointed

Posted By admin On June 7, 2012 @ 3:15 am In Money Watch | Comments Disabled

Patti Domm
CNBC [1]
June 7, 2012

The expectations are so high for Fed Chairman Ben Bernanke Thursday to say something revealing about more Fed easing that he can probably only disappoint markets.

Bernanke’s 10 a.m. testimony before the Congressional Joint Economic Committee, comes on the heels of a major stock market rally, inspired in part by optimism for more Fed easing.

Stocks had their best day of the year [2], rising 286 points to 12,414, and the S&P 500 rose 29 to 1,315.

“What’s he (Bernanke) going to say? Is he really going to get in a helicopter and dump money?” said Steve Massocca of Wedbush Securities.

Developments in Europe could also be key Thursday, after a Reuters story Wednesday quoting German officials said a deal is in the works that would enableĀ Spain to recapitalize [3] its banks with aid from euro zone countries, but without strict new reforms. Markets will be watching as Spain conducts a bond auction, ahead of the New York market open.

Full article here [1]


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URL to article: http://www.prisonplanet.com/markets-await-helicopter-ben-but-may-be-disappointed.html

URLs in this post:

[1] CNBC: http://www.cnbc.com/id/47710250

[2] Stocks had their best day of the year: http://www.cnbc.com/id/47704435/

[3] Spain to recapitalize: http://www.cnbc.com/id/47707854/

[4] BRUTAL: Markets Are Getting Destroyed Around The World: http://www.prisonplanet.com/brutal-markets-are-getting-destroyed-around-the-world.html

[5] The Global Financial Markets Are Selling Off: http://www.prisonplanet.com/the-global-financial-markets-are-selling-off.html

[6] Greek anger as Spain is handed 100bn bailout with NO need for austerity measures… and world markets bounce back: http://www.prisonplanet.com/greek-anger-as-spain-is-handed-100bn-bailout-with-no-need-for-austerity-measures-and-world-markets-bounce-back.html

[7] European stock markets rocked by panic selling as debt crisis reignites: http://www.prisonplanet.com/european-stock-markets-rocked-by-panic-selling-as-debt-crisis-reignites.html

[8] Marc Faber Fears 1987 Redux As “Markets Will Punish Interventionists”: http://www.prisonplanet.com/marc-faber-fears-1987-redux-as-markets-will-punish-interventionists.html

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