Stock Futures Edge Higher Ahead of Bernanke Testimony. Stocks to Watch: ALU, S, YHOO, LNG, ARNA, ANTH

Wall Street signAll eyes will be back on Fed Chairman Ben Bernanke today as he gears up for more Congressional testimony. European markets are on edge as the testimony grows near. Numerous opinion pieces have come out in recent days urging the Fed to do more or risk another recession, or at worst, a depression.

A quick snapshot of the futures has the Dow, Nasdaq and S&P 500 all up half a percent heading into the open.

Yesterday’s macor numbers on retail spending showed the US consumer taking a big step away from the table. On an expected rise in sales, the number came in as a big miss. If the data keeps painting a bleak picture, the Fed will have no choice but to act to bolster the economy. Everyone knows that Congress will do nothing until the we hit the proverbial iceberg multiple times and start sinking. Sign Up For Free Stock Alerts

Commodities are also taking a wait and see approach with Bernanke’s testimony. Gold bulls have been salivating over the prospect of QE3 for a year now. Futures in the metal are essentially flat this morning as investors wait for the US Senate testimony.

Oil prices continue to trend higher as middle east tensions continue to spike. Nymex crude futures have been creeping back towards the $90 level and right now are up 30 cents to $88.76 per barrel. [Read more...]

Pre Market Gainers and Losers for June 14: IGT, OSIR, LNG, CS, DDD, AEGR

Market newsInternational Game Technology (NYSE:IGT) is up 5.90% today at $14.00. IGT has traded 14 thousand shares so far today and trades 3.5 million shares a day on average. IGT shares are jumping today as the company announces $1 billion share repurchase plan. The company has a market cap of 3.90 billion. Sign Up For Free Stock Alerts

Osiris Therapeutics, Inc. (NASDAQ:OSIR) is up 5.37% today at $7.45. OSIR trades on 162 thousand shares a day on average. OSIR shares received second approval for life-saving stem cell drug today and Prochymal granted marketing consent by New Zealand. The company has a market cap of 232.26 million. [Read more...]

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