Equities Looking for Fourth Straight Gain
Markets are looking to push upwards for a fourth consecutive day ahead of several economic releases this morning. Two hours before the open equities are clearly looking up with Dow futures 25 points higher at 10,433 and S&P 500 futures up 4.50 points at 1,118.00.
WTI crude oil is below the $75 per barrel mark but has inched up 10 cents overnight to $74.59. In minor contrast, Spot Gold is down 3 cents to $1083.97 per ounce.
In case you missed it, Treasury Secretary Tim Geithner told NPR last night that economic growth is “accelerating now in the fourth quarter.” He said consumers are spending more, businesses are beginning to invest again, and the risk of a W-shaped recession was mild.
“We are not going to have a second wave of financial crisis,” Geithner said. “We cannot afford to let the country live again with a risk that we are going to have another series of events like we had last year. That is not something that is acceptable.”
On the downside, he noted that banks are not lending enough and that recovery will not be immediate. “We were in a very deep hole and it is going to take a long time to repair the damage done to confidence,” he said.
Key Events Today:
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