By Shawn Langlois
Critical intelligence before the U.S. market opens
Waiting — as if this market needs an excuse to extend the summer malaise. But that’s what traders will probably be doing a whole lot of over the next few sessions. Should feel familiar by now.
With earnings season mercifully in the rear-view mirror, and investors wheezing through a quiet dog-days trading stretch, handicapping Janet Yellen’s upcoming speech will be priority number one for anybody eyeing the markets.
But the waiting, as has often been the case of late, could very well just lead to more waiting. And hand-wringing. Clarity isn’t generally the Fed’s strong suit, as Erik Swarts examines in a post on Market Anthropology
“Markets are headed towards a rather charged environment when it comes to policy expectations — one that could easily disappoint or further confuse,” he wrote as part of his bullish take on precious metals. Of course, the last thing we need is more confusion.
Charles Hugh Smith, the man behind the Of Two Minds blog, pretty much summed up how so many are feeling right about the current climate when he said “our society is sick, our economy exploitive and our politics corrupt, I’m not saying anything you didn’t already know.”
Well, that little ray of sunshine isn’t hurting stock futures much, as they are roughly unchanged ahead of the opening bell.