Markets tanked and then immediately reversed losses in a dramatic reversal following a poor initial jobless claims number and a CPI reading that suggested the economy could be slowing at a greater rate than expected.
There’s a pretty decent likelihood that this turnaround is all about expectations for QE3 or some other type of policy action from the Federal Reserve. The worse the data, the higher the likelihood that the Federal Open Market Committee will make take strong measures to address economic concerns when it meets next week.
Our full explanation…The US Economy Just Gave The Fed 2 Reasons To Load Its Bazooka >
Check out Dow futures in the last few minutes:
Photo: Yahoo Finance