September 29, 2009 – 4:17 am
Stock prices are trading lower this morning after yesterday’s blistering 1.78% gain. Commodity prices are mixed with oil slightly above $66, well below a recent peak of $74, but still almost a third higher than one year ago. The US$ is a tad higher on a trade-weighted basis, while the euro remains soft. Yields on the benchmark 10-year Treasury are down four basis points to 3.28%.
The Tuesday schedule brings a variety of flavors to the market’s menu. Second-tier retail reports should give a sense of how consumption is holding up as September comes to a close; a key look at home prices is expected to indicate that the long deflationary spiral has hit a bottom; the consumer confidence report will say present conditions remain soft but expectations are rising; and two officials from the Federal Reserve assess the economic outlook....(
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