U.S. Stocks Decline Ahead of Obama, Bernanke Remarks on Economy - Businessweek: All eyes are focused on policy steps that might change economic momentum one way or another,” Alan Gayle, a senior strategist at RidgeWorth Capital Management in Richmond, Virginia, which oversees about $48 billion, said in a telephone interview. “The U.S. economic news was mixed between jobless claims and trade. We have a lot of wait and see right now.”
The S&P 500 yesterday had the biggest gain since Aug. 23, as investors speculated that President Barack Obama’s plan to inject more than $300 billion into the economy will bolster growth. Obama plans to unveil his proposals for promoting job growth in an address to a joint session of Congress today. Separately, Federal Chairman Bernanke is due to speak on the economic outlook at 1:30 p.m. New York time.
No comments:
Post a Comment