Markets Fluctuate on Chatter of Early QE Exit by Fed
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Stock futures were lower early on chatter that the Fed might call an early exit to its easing program.
San Francisco Federal Reserve Bank President John Williams commented Thursday that the Fed could curb open-market action over the summer, leading to an potential stoppage by the end of 2013, one year earlier than expected.
Williams doesn't have a vote on the Fed's policy-setting panel, Reuters noted Friday.
The Fed has been purchase about $85 billion of bonds per month. Some regional officials have called for the cease of mortgage-backed securities purchases given the recent rebound in the U.S. housing market.
Into the open, the S&P is up 0.3 percent, Dow up 0.3 percent, and Nasdaq up 0.2 percent.
For ETFs, traders will be keeping an eye on SPDR Gold Trust (NYSE: GLD), PowerShares DB US Dollar Index Bullish (NYSE: UUP), CurrencyShares Euro Trust (NYSE: FXE), and iShares Silver Trust (NYSE: SLV), among others.
San Francisco Federal Reserve Bank President John Williams commented Thursday that the Fed could curb open-market action over the summer, leading to an potential stoppage by the end of 2013, one year earlier than expected.
Williams doesn't have a vote on the Fed's policy-setting panel, Reuters noted Friday.
The Fed has been purchase about $85 billion of bonds per month. Some regional officials have called for the cease of mortgage-backed securities purchases given the recent rebound in the U.S. housing market.
Into the open, the S&P is up 0.3 percent, Dow up 0.3 percent, and Nasdaq up 0.2 percent.
For ETFs, traders will be keeping an eye on SPDR Gold Trust (NYSE: GLD), PowerShares DB US Dollar Index Bullish (NYSE: UUP), CurrencyShares Euro Trust (NYSE: FXE), and iShares Silver Trust (NYSE: SLV), among others.
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