Investors are shrugging off a disappointing jobs report on the news that the Fed will keep interest rates low for the foreseeable future. New York Fed President, William Dudley, told an audience that he thinks the US economy is not yet strong enough to make a serious dent in the jobless rate.
The comes a day after another Fed official speech in which it was said that the US would fall short of meeting its maximum employment objectives. This will almost certainly get the QE rumor mill spooled back up and into overdrive.
Investors are also gearing up for Google’s earnings report after the close today.
Currently the Dow is up 142, the Nasdaq 36 and the S&P 14. [Read more...]