Jimmy Yates
Jimmy Yates
Jimmy Yates was an English professional footballer who played as a right winger in the 1900 FA Cup Final for Southampton...
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The wake of Hurricane Katrina seems set to keep traders on edge ... and once again a break higher seems unlikely unless we see a change of tune from the FOMC (Federal Open Market Committee) with regard to monetary policy. Friday's Michigan sentiment figure may yet hold a degree of concern. Some forecasts are putting this number as low as 82 and so long as high fuel prices are with us, action may be required to ensure that domestic expansion can be maintained as we move towards the year end.
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The markets have been on a very good run over the last few months. Perhaps this is the end of that trend.
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Wall Street has embraced the news in a positive manner, exploiting the fact that the U.S. economy is in robust shape rather than dwelling overly on the fact that this news paves the way for further rate hikes at the Federal Reserve.