Stocks were cautious to move full-steam ahead at the start of May after the Federal Reserve announced that it would be delaying the results of the so-called stress-test results.
US Session Key Developments
- Federal Reserve Delays Stress-Test Results
- Consumer Confidence Jumps For First Since September
Stocks Begin May Cautiously Ahead As Fed Delays Stress-Test Results
Markets were relatively flat at the start of the month on Friday after the Federal Reserve revealed that it would be delaying the release of the so-called stress-tests. It is unclear as to why the delay is occurring. Nonetheless the Fed plans on unveiling the results on May 7. One may only hypothesize, at this moment, that the original figures insinuated that certain banks may have failed and that providing the numbers to the public may lead to continue short-selling of financial stocks. Consumers happened to feel a bit better about the overall economy in April. University of Michigan’s confidence survey showed that the public felt significantly better about the economy than they had in the past. It was the largest of such increases since October of 2006.
Dow 30 8212.41 +44.29 +0.54%
SPX 500 877.52 +4.71 +0.54%
NAS 100 1719.20 +1.90 +0.11%
Notable US Event Risk / Economic Releases
