Lows In For S&P Futures

Lows in for S&P futures? Stock index futures posted sharp gains across the board, with the S&P 500 futures leading the charge, as a "Dovish" testimony by Federal Reserve Chairman Ben Bernanke before the U.S. Senate spurred a buying frenzy in stocks. In his testimony, Chairman Bernanke stated that the Fed must be cautious of raising borrowing costs too much, and that "moderation" in U.S. economic growth is occurring. This had many traders believing that the Fed may pause in its tightening campaign at their August meeting. A weaker than expected Housing Starts figure for June also helped to support the dovish views. Read More....