Volatility Will Be High
Once the U.S.
markets reopen on Monday, traders should be cognizant that volatility
will be high. This will be prevalent in light of the European Central Bank’s
decision not to lower interest rates. With the ECB so laid back on cutting
interest rates in Europe, there is a high probability of a global recession,
unless policymakers both here and abroad become more aggressive in attempting to
ignite growth in the economy.
The University of Michigan sentiment
numbers were released earlier today. The index slipped to 83.6, down 7.9 points.
Consensus was for 91.5%. Traders believe that the weaker-than-expected
numbers leave the door open for the Fed to lower rates by 50 basis points at the
Oct. 2, FOMC meeting.
FDIC sees no concerns with the
stability of the U.S. Bank system.
FAC/Equities upgraded Carbo Ceramics
(
CRR |
Quote |
Chart |
News |
PowerRating)
to Strong Buy from Buy.
The National Football League has
canceled its 15 games for this weekend.