UPB Morning Market Video

U.S. equities extended their Yellen rally after global stocks jumped aboard the dovish train following the release of the next Fed Chair's prepared U.S. Senate testimony yesterday afternoon. A heavy early dose of firmer productivity, claims dip and trade gap widening didn't leave a lasting imprint, though, ahead of more Yellen-speak at 10AM EST. In Asia, Japan's Nikkei rallied 2.12 percent while the Shanghai Comp rose 0.60 percent, and in Europe the Euro Stoxx 50 is 0.65 percent, though Spain's IBEX and Italy's MIB are lower.

Eurozone and Japan GDP data were also lower than expected, though seen to provide reason for keeping stimulus policies in place. The Dow is 8 points firmer while the S&P gained 2 points and the NASDAQ is 8 points lower after a miss by Cisco, which sank 12 percent in pre-open trade. Also in earnings news: Wal-Mart sank 1.7 percent after an earnings gain but a revenues miss while Kohl's plunged 9 percent after a much-weaker-than-expected report.

Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

More Posts by UPB: View All | Private Twitter Feed: Access Now! (For Diamond Members)

Leave a Reply