Remember when the market dropped over 800 points yesterday (and we whistled Dixie)? And when the Dow dropped below 10,000 for the first time since 2004? Well, that was Monday. Today is Tuesday! Hopes of a coordinated response to the credit crisis by European central banks is easing stock-market fears. Ben Bernanke is scheduled to speak later today and release minutes from the latest Fed interest-rate-setting meeting, as is European Central Bank president Jean-Claude Trichet. Asian markets are experiencing a bounce after an interest-rate cut in Australia, and as the NYSE opening bell approaches, stock futures are edging higher, indicating investor confidence — despite the fact that Bank of America is reducing dividends and selling off stock to shore up capital.
We’re not saying that you should get psyched or anything. We just had a picture of Ben Bernanke smiling and we weren’t sure if we would ever get the chance to use it.
Futures Set to Bounce at the Open As Rate-Cut Hopes Offset Bailout Fears [WSJ]
