1:00pm (EST) The market is showing strong gains today ahead of the 2pm FOMC Rate Decision as Retail Sales rose 1.1% last month. It was the biggest jump in nearly 5 years which shows the consumer is still spending despite rising gas prices which are part of total retail sales.
Bulls Break Resistance
Futures Up, Retail Sales Down
9:20am (EST) Futures are pointing towards a higher open this morning despite a couple of iffy economic reports. The Dow futures are up 60, Nasdaq – 13, while the S&P futures are up 7. Though still up, futures pulled back slightly following the the just released Advance Retail Sales Report for July.
Market Opens Higher
The market is extending its gains this morning after the government announced it is willing to provide up to $800 billion to help the market for consumer debt and mortgage loans. The goal is to help make loans cheaper and more available for the companies that issue credit cards, make