All eyes are on Europe this morning, as the European Central Bank (ECB) set its monetary policy. The bank followed up its big talk with no rate action, but the bank’s press conference may offer further insight. The EURO STOXX 50 was up 0.9% ahead of the release, but began trailing off at the ECB’s seeming inaction. This, of course, follows the Fed’s balk from the day before. The iShares S&P Europe 350 (IEV) was about unchanged yesterday. S&P futures were indicating a higher open before the 8:30 economic data releases, and the SPDR S&P 500 (SPY) was only off fractionally yesterday. Without any new ideas from the ECB, and given the Fed’s inaction, I expect stocks will look lower Thursday; though depending on all other developing news.
Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.
Inquiries about Wall Street Greek advertising services can be made by phone to 347.746.3415.
