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Stocks Retreat after Fed’s Hoenig Calls for Rate Hike

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Apr 8, 2010.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
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    Today’s sample of Futures Analysis from FuturesHound.com

    U.S. equity markets retreated after Kansas City Fed President Hoenig called for the central bank to begin increasing interest rates before another asset bubble forms. Although a Treasury auction early in the session indicated that the Fed would most likely keep interest rates low for a prolonged period, nervous traders chose to listen to Hoenig and sold equities.

    Earlier in the session, U.S. stocks rebounded after a weaker opening but were not able to hold on to gains as pressure from a possible default by Greece appeared to weigh on investors.

    The inability of the Dow to penetrate 11,000 also pressured the markets. Earlier in the week, a divergence between the indices developed. Traders may be trying to drive the stock indices lower to create value which could attract fresh money.

    Read full article at full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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