Stock futures are looking for any excuse to go higher. After a bounce in Asia overnight, US markets are set for a sizable bounce this morning. Dow futures are up 61 points to 12,968. Nasdaq 100 futures are up 13.50 points to 2,661. The S&P 500 futures are rounding out the gains, up 7 points to 1,373.
Retail sales are out this morning in-line with expectations. Most of the 1.1% rise is attributable to the record high gas prices this early in a season.
The big news domestically today will be the Fed statement this afternoon. Most expect few fireworks, as the trajectory of the data prevents the Fed from doing anything major to keep the recovery propped up. [Read more...]