Stocks were relatively at rest as massive declines stalled as investors now wait Thursday’s Retail Sales data particularly to assess how the result might affect Fed policies.
Of note was a comment today by the WSJ’s Fed anointed media oracle, Jon Hilsenrath indicating the Fed would likely remove “patient” on or before their June meeting.
That should be bearish for those afraid of an imminent rate rise.
There’s a lot of moving parts to the current news flow. First the dollar (dba Uncle Buck) is still soaring as the euro continues to fall. The ongoing decline is controversial as Fed Governor Fisher approves of the rise indicating “the stronger the dollar the better it is for our companies to hire American workers.”